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Pension
Screen Actors Guild–Producers Pension & Health Plans
Summary Plan Description
Screen Actors Guild–Producers Pension Plan
july 1, 2013
A
Board Of Trustees
Union Trustees
Daryl AndersonAmy Aquino
Timothy BlakeJim Bracchitta
John Carter Brown Duncan Crabtree-Ireland
Leigh FrenchBarry Gordon
Al HubbsBob Kaliban
Richard MasurJohn T. McGuireJoseph RuskinJohn H. SuckeKathryn Swink
Kim SykesNed Vaughn
David P. White
Producer Trustees
Jay BarnettTed Bird
Tracy CahillEryn Doherty
Marla JohnsonRobert W. Johnson
Sheldon KasdanShelley Landgraf
An T. LeCarol LombardiniStacy K. Marcus
Diane P. MirowskiPaul Muratore
Alan H. RaphaelJohn E. RhoneRobert Todd
David WeissmanSamuel P. Wolfson
Trustees Emeritus
Joyce Gordon John A. McGuinnEdward G. O’NeillWilliam Schallert
Chief Executive Officer
Christopher Dowdell
Legal Counsel
Bush Gottlieb Singer Lopez Kohanski Adelstein & DickinsonFox Rothschild, LLP
Consultant
The Segal Company
Auditor
Bond Beebe
Screen Actors Guild – Producers Pension Plan
Street Address: 3601 West Olive Avenue, Burbank, CA 91505
Mailing Address: P.O. Box 7830, Burbank, CA 91510-7830
(818) 954-9400 or (800) 777-4013
Fax: (818) 953-9880 Website: www.sagph.org Email: [email protected]
B
SCREEN ACTORS GUILD – PRODUCERS PENSION PLANBusiness Arts Plaza
Street Address: 3601 West Olive Avenue, Burbank, CA 91505Mailing Address: P.O. Box 7830, Burbank, CA 91510-7830
(818) 954-9400 or (800) 777-4013Fax: (818) 953-9880
Website: www.sagph.orgEmail: [email protected]
To All Participants:
We are pleased to provide you with this edition of the Summary Plan Description booklet that explains the benefits of your Pension Plan in effect as of July 1, 2013. Please review this booklet carefully. The Pension Plan is very complicated, and although we have tried to explain the Plan provisions as clearly as possible, it is likely that you will have questions after reading this booklet. You may call or write the Plan Office for answers to any questions you may have about the Plan and how any rule affects you and your beneficiaries.
This booklet explains the Pension Plan in effect as of July 1, 2013. If the facts and circumstances of a par-ticular situation must be considered for a time before July 1, 2013, the provisions of the Plan in effect at the relevant date must be applied. Those provisions may be different from the current Plan as contained in this booklet. For your protection, only the Board of Trustees is authorized to interpret the Plan. Information you may receive from the Union or Producers or their representatives cannot alter or bind the Plan. Official information about your rights under the Plan must be communicated to you, in writing, and signed on behalf of the Board of Trustees.
We invite you to visit the Plan’s website at www.sagph.org. There you will find this entire booklet plus other information about the Plan including Take 2 Newsletters and supplemental plan information. If you register for a password, you can also estimate the amount of pension you may be entitled to receive now or in the future. You can also project earnings to see how that may affect your pension amount. You can also sign-up for e-Communications which enables you to receive certain Plan documents, such as the Take 2 Newsletter, Summary Plan Description and Annual Summary of Earnings via e-mail instead of on paper in the mail.Please remember you must keep the Plan Office informed of any change in your mailing address. This will ensure that you receive all communications. You must also keep the Plan Office informed of any change in your marital status or beneficiary designation.
The Pension Plan has been providing retirement benefits to participant and their families and beneficiaries for over 50 years. We are proud of the growth and success of the Pension Plan and believe it will continue to provide a significant measure of security to you and your beneficiaries for many years to come.
Sincerely,
BOARD OF TRUSTEES
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Table Of Contents
Glossary Of Terms ....................................................... 1
Earnings Credit ............................................................ 2
Prior Service Earnings Credit ................................. 2
Current Service Earnings Credit ............................. 2
Military Earnings Credit .......................................... 3
Pension Credit .............................................................. 4
Prior Service Credit.................................................. 4
Current Service Credit ............................................. 4
Military Service Credit ............................................ 5
Alternative Eligibility Program Pension Credit ..... 5
Vesting ............................................................................ 6
Ten-Year Vesting ...................................................... 6
Limited Five-Year Vesting ....................................... 6
Normal Retirement Age Vesting ............................ 7
Types Of Pension ......................................................... 9
Regular Pension ....................................................... 9
Delayed Retirement After age 65 .................. 12
Mandatory Pension Distribution Dates ........ 12
Early Retirement Pension ...................................... 12
Disability Pensions ................................................ 13
Terminal Illness Benefit ......................................... 15
Vested Pension ....................................................... 15
Service Pension ..................................................... 16
Pro Rata Pension .................................................... 16
Forms Of Pension Payment .................................... 17
Automatic Lump Sum Payment ........................... 17
Five-Year Certain .................................................... 17
50% Joint and Survivor Pension .......................... 17
75% and 100% Joint and Survivor Options ........ 18
Pop-Up Option ....................................................... 19
Ten-Year Certain Option ........................................ 20
Partial Lump Sum Payment Option ..................... 21
Death Before Retirement Benefits ....................... 22
Pre-Retirement 50% Joint and
Survivor Pension .................................................... 22
Pre-Retirement 100% Joint and
Survivor Pension .................................................... 23
Pre-Retirement Death Benefits ............................. 23
Designating a Beneficiary ..................................... 24
Suspension Of Pension Payments For
Certain Employment After Retirement .............. 25
Post-Retirement Benefit Accruals ....................... 27
How To Apply For Benefits ..................................... 28
Annuity Starting Dates
(Pension Effective Dates) ....................................... 29
Methods Of Receiving Pension Payments......... 29
Annual Pensioner Verification .............................. 29
How To Appeal A Decision Of The Trustees .....30
Qualified Domestic Relations Orders .................30
Overpayments ............................................................ 31
Website Information and
e-Communications .................................................... 31
Some Questions and Answers
About The Plan .......................................................... 32
Checklist: Things For You To Do ..........................35
ERISA Information ....................................................36
Benefit Summary ....................................................... 41
Text Of Pension Plan ................................................43
Screen Actors Guild–Producers
Pension Plan
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Glossary Of Terms
Producer. An employer that is signatory to a SAG-
AFTRA collective bargaining agreement and is re-
quired to make contributions to the Pension Plan.
Total Disability. In order to qualify for a Disability
Pension, you must be Totally Disabled. You will be
considered Totally Disabled only if you have been
awarded a Social Security Disability Benefit and you
have an injury or illness which prevents you from
engaging in any substantial gainful activity which is
expected to last for your lifetime or result in death. It
is important to note that the Plan’s definition of Total
Disability is more restrictive than Social Security’s
definition.
Plan Office Participant. The term Plan Office
Participant means an employee of the Screen Actors
Guild – Producers Pension Plan. Effective January 1,
2007, a Plan Office Participant also includes an em-
ployee of the Screen Actors Guild – Producers Indus-
try Advancement and Cooperative Fund.
Guild Office Participant. The term Guild Office
Participant means an employee of SAG-AFTRA on
whose behalf contributions are made to the Pension
Plan. Effective April 1, 2007, a Guild Office Participant
also includes an employee of the Screen Actors Guild
Foundation.
Same-Sex Domestic Partner. The term Same-
Sex Domestic Partner means an individual who is the
same sex as the Participant and who has submitted
to the Plan an Affidavit of Domestic Partnership along
with required supporting documentation and who
meets the required criteria set out in the Affidavit. For
a complete definition, please refer to Article I, Section
32 of the Pension Plan rules which appears on page 49
of this booklet. For annuity starting dates on and after
July 1, 2011, qualified Same-Sex Domestic Partners
shall be considered married.
Spouse. The terms “marriage,” “married,” “legally
married,” “spouse,” or “legal spouse,” as used herein,
shall have the same meanings as those set forth under
applicable law. For annuity starting dates on and after
July 1, 2011, qualified Same-Sex Domestic Partners
shall be considered married.
Actor or Participant. A person employed by
Producers to render services as an actor or other
performer in the motion picture industry subject to
a collective bargaining agreement with SAG-AFTRA
and on whose behalf contributions are required to be
made to the Pension Plan.
SAG-AFTRA. Refers to the Union which entered
into collective bargaining agreements with Produc-
ers. These agreements provide for contributions by
Producers to the Pension Plan for the purpose of
providing pension benefits to eligible participants.
SAG-AFTRA was formed on March 30, 2012 and on
that date, among other things, assumed all collective
bargaining agreements of Screen Actors Guild (SAG).
Annuity Starting Date. The date on which benefits
first become payable to you or your beneficiaries. In
general, your Annuity Starting Date is the first of the
month following the date your application is received
by the Plan Office and you meet the eligibility require-
ments. This is also referred to as the Effective Date.
Earnings Credit. Credit you receive for earnings
resulting from employment as an Actor in theatrical
motion pictures, television motion pictures, televi-
sion commercials, industrial or educational motion
pictures, public television, music video and interactive
media projects, provided the employment was with a
Producer who was signatory to a SAG-AFTRA collec-
tive bargaining agreement under which contributions
are made in accordance with the Pension Plan Trust
Agreement. Earnings Credit is used to determine your
Pension Credit and to determine the amount of your
pension benefit.
Pension Credit. A unit which measures the amount
of time you have worked in the motion picture indus-
try in employment covered by a collective bargaining
agreement. Pension Credit is used to determine your
eligibility for benefits.
Break in Service. A period of time during which you
do not earn a minimum amount of earnings. A Break in
Service can be temporary or permanent depending on
how long it continues. A Break in Service can result in
the cancellation of previously earned Pension Credit.
Explanations of other technical terms and further detail will be found in the following explanatory material and the
text of the Pension Plan Document which follows the Summary Plan Description.
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Earnings Credit
In order to receive credit for Prior Service Earnings,
you must furnish the Plan Office with information
concerning the earnings you received from Producers
prior to 1961 under SAG collective bargaining agree-
ments. The Plan Office will then obtain verification of
your earnings record from the Producers concerned
or through other available means before determining
the actual amount of earnings to be credited under
the Plan. Even if you are not yet ready to retire, you
can call or write the Plan Office to verify that you
have been credited with all of the Prior Service Earn-
ings Credit to which you are entitled.
CURRENT SERVICE EARNINGS CREDIT
Employment On and After January 1, 1961
You are entitled to Current Service Earnings Credit
for all earnings in calendar years after 1960, includ-
ing residuals and/or deferred payments, resulting
from employment as an Actor in the motion picture
industry or resulting from employment as a Plan Of-
fice Participant or a Guild Office Participant for which
contributions are required to be made to the Plan.
Earnings are credited to the calendar year in which
payments were made or should have been made,
except that after January 1, 1976, earnings result-
ing solely from deferred payments to an Actor who
has not yet retired shall be credited to the calendar
year during which the employment producing such
deferred payments was performed.
Maximum Current Service Earnings Credit
For calendar years starting on and after January 1,
1989, federal regulations impose a maximum on
the amount of Current Service Earnings that can be
recognized from any one employer in a calendar year.
This amount is adjusted from time to time by the
federal government. For details on the limits in effect
during any particular year, you should contact the
Pension Department at the Plan Office.
The earnings you receive from employment as an
Actor for a Producer that is signatory to a collec-
tive bargaining agreement with SAG-AFTRA under
which contributions are made in accordance with the
Pension Plan Trust Agreement are called “Earnings
Credit”. Earnings Credit is used to determine your
Pension Credit which is needed to qualify for a pen-
sion. Earnings Credit also determines the amount of
your pension. There are limits on the amount of Earn-
ings Credit which is recognized by the Pension Plan.
There are three types of Earnings Credit:
u Prior Service Earnings Credit – for your employment prior to January 1, 1961.
u Current Service Earnings Credit – for your employment after January 1, 1961.
u Military Service Earnings Credit – for periods you served in the armed forces.
PRIOR SERVICE EARNINGS CREDIT
Employment prior to January 1, 1961
You are entitled to Prior Service Earnings Credit for
all earnings, up to a maximum of $200,000 in any one
calendar year prior to 1961, from employment as an
Actor in the motion picture industry, provided such
employment was with a Producer who was signatory
to a SAG collective bargaining agreement.
Earnings are credited to the calendar year in which
payments were made. Prior Service Earnings include
residuals and deferred payments except that residu-
als and deferred payments received after January 1,
1961, but earned prior to January 1, 1961, on which
contributions are not due, will not be credited for any
purpose.
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MILITARY SERVICE EARNINGS CREDIT
After December 12, 1994
You are entitled to Military Service Earnings Credit
during periods of military service which start on or
after December 12, 1994 provided you meet all of the
following requirements:
1. You have some sessional work in the 12-month
period immediately before your military service.
2. Your military service is with the Armed Services
as defined in the Uniform Services Employment
and Reemployment Rights Act of 1994 on a vol-
untary or involuntary basis.
3. Your discharge is honorable.
4. You return to work (have sessional earnings)
for a signatory producer within one year of your
discharge.
You will be credited with Military Service Earnings
Credit based on the amount of your Earnings Credit
as an Actor during the 12-month period immediately
preceding military service. The amount of such Mili-
tary Service Earnings will be reduced by the amount
of any non-Military Earnings Credit you have during
the period of your military service. Such Military
Service Earnings will be added to any non-Military
Earnings credited to you prior to or following the pe-
riod of military service. The Military Service Earnings
are treated as if they were Current Service Earnings in
determining both your eligibility for pension and the
amount of pension.
Military Service Earnings Credit is limited to five
years of military service not counting periods of
military service for training, involuntary active duty
extensions or where required to complete an initial
period of obligated military service.
Example: If you served in the military during the
period from January 1, 2011 through June 30, 2011
and your average rate of pay during calendar year
2010 was $1,000 per month, you will be credited with
$6,000 of military service earnings — $1,000 for each
month of your military service. This is added to any
other Current Service Earnings reported on your be-
half after June 30, 2011 and, if the total earnings equal
$18,000 or more, you will earn a Pension Credit for
2011 and these earnings will be used to calculate your
pension amount.
For Military Service Credit prior to December 12,
1994, please see page 5.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Pension Credit
Calendar Years Earnings Requirement for One Pension Credit
1961 through 1991 $ 2,000
1992 through 1995 $ 5,000
1996 through 1998 $ 7,500*
1999 through 2002 $10,000**
2003 through 2008 $15,000
2009 $16,000
2010 $17,000
2011 $18,000
2012 through 2013 $20,000
* If you were age 55 or older and had at least 5 but less than 10 Pension Credits as of January 1, 1996, you were entitled to continue to earn Current Service Credit at the prior rate (one year equals $5,000) until the earlier of January 1, 2003 or the date you had a total of 10 Pen-sion Credits. After that time, you will earn additional Pension Credit based on the earnings requirement in effect at that time.
** If you had three or more Pension Credits as of January 1, 1999 you were entitled to continue to earn Current Service Credit at the $7,500 rate until the earlier of January 1, 2003 or the date you had a total of 10 Pen-sion Credits. After that time, you will earn additional Pension Credit based on the earnings requirement in effect at that time.
Special Rule
If your Current Service Earnings in any calendar year
before January 1, 1976, resulted solely from residu-
als and/or deferred payments on which contributions
were payable to the Plan, you are entitled to Current
Service Credit for such year only if:
• You have a total of at least 10 Pension Credits
made up of a combination of Prior Service Credit
and Current Service Credit; and
• Ineachoftheyearsafter1960thatareincludedin
these 10 years, you received some payment for the
performance of work (sessional earnings) which
was subject to Producers contributions to the Plan.
Pension Credits are units that measure the amount of
time you have worked in employment covered by the
Plan. Pension Credit is earned based on your Earnings
Credit or your days of covered employment. Pension
Credits are used in determining your eligibility for
benefits as well as the amount of benefits payable
under the Plan.
There are four types of Pension Credit:
u Prior Service Credit
u Current Service Credit
u Military Service Credit
u Alternative Eligibility Pension Credit
PRIOR SERVICE CREDIT
Before January 1, 1961
You will be credited with one year of Prior Service
Credit for each calendar year between January 1,
1937 and December 31, 1960, in which you have Prior
Service Earnings of $2,000 or more. The maximum
number of Prior Service Credits that will be used to
calculate your benefits is 20.
CURRENT SERVICE CREDIT
After December 31, 1960
You will be credited with one year of Current Service
Credit for each calendar year after December 31, 1960
in which you meet the minimum earnings require-
ment. The Trustees determine, from time to time, the
amount of earnings required to earn a Pension Credit,
as follows:
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MILITARY SERVICE CREDIT
Prior to December 12, 1994
If you do not otherwise have 10 years of Pension
Credit, you may be granted Military Service Credit
for any calendar year prior to December 12, 1994 in
which you did not earn a Prior or Current Service
Credit and in which you served in the Armed Forces
of the United States during the years after 1939. If you
served during the Second World War in the armed
forces of a nation that was allied with the United
States, you are entitled to Military Service Credit for
that service.
Military Service Credit will be granted for a maximum
of three years or until you have been credited with 10
years of Pension Credit, whichever is achieved first.
In order to receive credit for Military Service you
must have had some employment and earnings as
an Actor in each of the two years before your mili-
tary service and your discharge must be other than
dishonorable.
On and After December 12, 1994
You will be credited with Military Service Earnings
Credit for periods on and after December 12, 1994 as
outlined on page 3.
ALTERNATIVE ELIGIBILITY PROGRAM
PENSION CREDIT
After December 31, 1998
You are entitled to a Pension Credit under the Al-
ternative Eligibility Program for any calendar year
after December 31, 1998 in which you do not meet
the minimum earnings requirement but in which you
work for a minimum number of days as an actor in
employment which is covered by a collective bar-
gaining agreement with SAG-AFTRA under which
contributions are made in accordance with the Pen-
sion Plan Trust Agreement. The number of days is as
follows:
Calendar Years Days of Employment Requirement for One
Pension Credit
1999 through 200260 days
in a calendar year
2003 and later70 days
in a calendar year
Pension Credit earned under the Alternative Eligibil-
ity Program is used in the same way as other Pension
Credit except that it will not count toward:
• TheMinimumPension
• EligibilityforEarlyRetirementPension
• EligibilityforDisabilityPension(Occupationalor
Non-Occupational)
• EligibilityfortheTerminalIllnessBenefit
• EligibilityforSeniorPerformersHealthPlancov-
erage (including the Extended Spousal coverage)
The amount of pension earned with Pension Credits
under the Alternative Eligibility Program is calculated
in the same way as other pensions – based on your
actual earnings and the benefit formula, except that
the minimum pension amount (currently $220 per
month) does not apply. This means that if your earn-
ings produce a monthly pension of less than $220 per
month, you will receive the lesser amount.
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Vesting
Vesting means that you have satisfied the service
requirements for a pension and will be eligible for a
pension once you meet the age and other require-
ments. Once you are vested, your previously earned
Pension Credit cannot be cancelled.
You can become vested in three ways:
1) Ten-Year Vesting – You are vested once you
have accumulated 10 Pension Credits.
2) Limited Five-Year Vesting – You are vested
once you have accumulated 5 Pension Credits
without a Permanent Break in Service and have
satisfied the Activity Test. This type of vesting
became effective January 1, 1999.
3) Normal Retirement Age Vesting – You are
vested once you have attained Normal Retire-
ment Age without a Permanent Break in Service.
TEN-YEAR VESTING
Once you have accumulated 10 or more Pension
Credits, you will be eligible for a pension at any time
after reaching age 55. Pension Credits used for Ten-
Year Vesting do not need to be consecutive and are
not subject to Break in Service rules. However, Pen-
sion Credits earned under the Alternative Eligibility
Program (see page 5) do not count toward eligibility
for an Early Retirement Pension. Accordingly, if some
of your 10 Pension Credits were earned under the
Alternative Eligibility Program, you will not be eligible
for a pension until age 65.
LIMITED FIVE-YEAR VESTING
Once you have accumulated 5 Pension Credits with-
out a Permanent Break in Service and have satisfied
the Activity Test, you will be eligible for a Vested Pen-
sion at age 65.
Break in Service Rule for Limited Five-Year Vesting.
If you do not meet a certain minimum earnings
requirement in a calendar year, you have a One-Year
Break in Service. A One-Year Break is temporary
unless you have so many that the break becomes
permanent. A Permanent Break in Service cancels the
Pension Credits you previously earned for purposes
of Limited Five-Year Vesting. However, any years can-
celled for the Limited Five-Year Vesting will still count
toward Ten-Year Vesting.
One-Year Break In Service
You have a One-Year Break in Service in any calendar
year in which you do not meet the following earnings
requirement:
1961-1991 $ 2,000
1992-1995 $ 2,500
1996-1998 $ 3,750
1999-2002 $ 5,000
2003-2008 $ 7,500
2009 $ 8,000
2010 $ 8,500
2011 $ 9,000
2012 - 2013 $10,000
A One-Year Break (or a series of One-Year Breaks) is
temporary unless you have so many that the break
becomes permanent.
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Permanent Break in Service
You have a Permanent Break in Service if you have
at least five consecutive One-Year Breaks and the
number of consecutive One-Year Breaks equals or ex-
ceeds the number of Pension Credits you previously
accumulated.
For example, if you have three Pension Credits, you
will have a Permanent Break in Service if you have
five consecutive One-Year Breaks in Service.
You can prevent temporary One-Year Breaks in Ser-
vice from becoming a Permanent Break in Service by
earning a Pension Credit. For example, if you have
three Pension Credits and then have three consecu-
tive One-Year Breaks, you can cure the One-Year
Breaks by earning one Pension Credit before you
have five consecutive One-Year Breaks.
If you earn more than the amount to avoid a One-Year
Break ($10,000 in 2012) but less than the minimum to
earn Pension Credit ($20,000 in 2012), the year is not
counted as a One-Year Break in Service, but it will not
cancel or interrupt the count of previous consecutive
One-Year Breaks.
The Activity Test for Limited Five-Year Vesting
The Activity Test requires you to have a certain
amount of earnings (or activity) on or after January 1,
1999 in order to be vested under the Limited Five-Year
Vesting. For example, if you had at least 5 but less
than 10 Pension Credits as of December 31, 1998, you
were not automatically vested as of January 1, 1999.
The Activity Test requires that you must first have
some additional earnings in order to become vested.
The Activity Test only applies if you have 5 but less
than 10 Pension Credits as of December 31, 1998. If
you have less than 5 Pension Credits, this test does
not apply to you because you already need at least
one more year of Pension Credit to become vested
under the Limited Five-Year Vesting. If you have 10 or
more Pension Credits, you are already vested under
the Ten-Year Vesting rule.
If you have at least 5 but less than 10 Pension Credits
as of December 31, 1998, how much you must earn to
satisfy the Activity Test depends on whether you are
active or inactive as of December 31, 1998.
Active Participant: You are considered “active” if
you did not have a One-Year Break in Service in 1998.
To become vested under Limited Five-Year Vesting,
an active participant needs one hour of sessional
employment on or after January 1, 1999 and before
incurring a Permanent Break in Service.
Inactive Participant: You are considered “inactive”
if you had a One-Year Break in Service in 1998. To
become vested under Limited Five-Year Vesting, an
inactive participant needs to earn one Pension Credit
on or after January 1, 1999 and before incurring a Per-
manent Break in Service.
NORMAL RETIREMENT AGE VESTING
You will be vested once you have attained Normal Re-
tirement Age without a Permanent Break in Service.
Normal Retirement Age
If you have some Earnings Credit after January 1,
1988, your Normal Retirement Age is the later of age
65 or the fifth anniversary of the date you began to
participate in the Plan.
If you do not have any Earnings Credit after January
1, 1988, your Normal Retirement Age is the later of
age 65 or the tenth anniversary of the date you began
to participate in the Plan.
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Break in Service for Normal Retirement Age Vesting
One-Year Break in Service
As with the Limited Five-Year Vesting, a Break in
Service rule applies to Normal Retirement Age Vest-
ing, but it is a slightly different rule. Under Normal
Retirement Age Vesting, you have a One-Year Break in
Service in a calendar year in which you do not meet
the following earnings requirement:
1961 – 1991 $ 2,000
1992 – 1995 $ 5,000
1996 – 1998 $ 7,500
1999 – 2002 $ 5,000
2003 – 2008 $ 7,500
2009 $ 8,000
2010 $ 8,500
2011 $ 9,000
2012 - 2013 $10,000
Permanent Break in Service
You have a Permanent Break in Service between
January 1, 1961 and December 31, 1987 if you have
a number of consecutive One-Year Breaks that equal
or exceeds the number of Pension Credits previously
accumulated. You have a Permanent Break in Service
on and after January 1, 1988 if you have at least five
consecutive One-Year Breaks in Service and the num-
ber of consecutive One-Year Breaks equals or exceeds
the number of Pension Credits previously accumu-
lated. If you have a Permanent Break in Service, years
of participation before the break are disregarded and
you can only count years of participation after the
break in determining whether you have reached Nor-
mal Retirement Age.
You can prevent a series of consecutive One-Year
Breaks from becoming a Permanent Break by earning
a Pension Credit. For calendar years after 1998, if you
earn more than the amount to avoid a One-Year Break
but less than the minimum to earn a Pension Credit,
the year is not counted as a One-Year Break, but it will
not cancel or interrupt the count of previous consecu-
tive One-Year Breaks.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Types Of Pension
This section describes the types of pension available
under the Plan and the service, age, and other
requirements for each. The Plan Office can tell you
about your eligibility and explain the factors that
should be considered when you are ready to have
your pension commence. The amount of monthly
payment for each type of pension will vary according
to a number of factors, including your age and the
options you select. Information about the amount
of payment will be found in the section on Forms of
Pension Payment as well as in this section.
REGULAR PENSION
Eligibility
You are eligible for Regular Pension if you meet the
following requirements:
1. You have attained age 65; and
2. You have at least 10 Pension Credits.
Amount
The Regular Pension is a monthly amount equal to
the sum of the annual Prior Service Benefit plus the
annual Current Service Benefit divided by 12. The
amount is rounded to the next higher multiple of 50¢
if it is not already a multiple of 50¢.
Minimum Pension: The minimum amount of monthly
Regular Pension is $220, except that this minimum
shall not apply if eligibility is based on Pension Cred-
its earned under the Alternative Eligibility Program.
The Minimum Pension amount is based on the Five-
Year Certain Form of payment and will be reduced if
another form of payment is elected.
Maximum Pension: The maximum amount of month-
ly Regular Pension depends on when your pension is
effective (your Annuity Starting Date) and, beginning
July 1, 2007, it also depends on the amount of Pen-
sion Credits you have accumulated as of your Annuity
Starting Date. The maximum pension amounts are as
follows:
Pension Effective Date
(Annuity Starting Date)
Pension Credits Required As Of The
Annuity Starting Date
Maximum Monthly Pension
Prior to 1/1/1998 N/A $ 4,400
1/1/1998 through 12/31/1998
N/A $ 5,000
1/1/1999 through 6/30/2007
N/A $ 6,000
7/1/2007 and later Less than 20 $ 6,500
20 through 29 $ 7,000
30 through 34 $ 7,500
35 or more $ 8,000
The maximum pension amount may be increased if
the Annuity Starting Date is after age 65 (see De-
layed Retirement on page 12). The maximum pension
amount is based on the Five-Year Certain Form of
payment and will be reduced if another form of pay-
ment is elected.
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Annual Prior Service Benefit
The Annual Prior Service Benefit is determined as
follows:
1. Determine the average annual Earnings Credit
for your most recent five years of Prior Service
Credit by adding the Earnings Credit in those five
years and dividing by 5.
2. Apply the amount determined in 1. to the formula
in Table 1.
3. Multiply the amount obtained in 2. by your total
number of years of Prior Service Credit. The
result is your annual Prior Service Benefit.
If you have less than five years of Prior Service Credit,
then the Earnings Credit for each year of Prior Service
Credit is applied to the formula in Table 1 and the re-
sults for all years are added together. The total is your
annual Prior Service Benefit.
Table 1
Earnings Credit For Prior Service
Annual Benefit for Each Year of Prior
Service Credit
$ 0 to $ 2,500 8.23% of Earnings Credit
$ 2,501 to $ 5,000 $ 205.75 plus 7.60% of excess over $ 2,500
$ 5,001 to $ 7,500 $ 395.75 plus 5.08% of excess over $ 5,000
$ 7,501 to $ 25,000 $ 522.75 plus 4.66% of excess over $ 7,500
$ 25,001 to $ 30,000 $ 1,338.25 plus 4.10% of excess over $ 25,000
$ 30,001 to $ 50,000 $ 1,543.25 plus 1.42% of excess over $ 30,000
$ 50,001 and over $ 1,827.25 plus 1.30% of excess over $ 50,000
Table 2
Earnings CreditAnnual Benefit for Current
Service Credit Earned Prior to 1996
$ 0 to $ 2,500 4.57% of Earnings Credit
$ 2,501 to $ 5,000 $ 114.25 plus 4.21% of excess over $ 2,500
$ 5,001 to $ 30,000 $ 219.50 plus 3.21% of excess over $ 5,000
$ 30,001 to $ 50,000 $ 1,022.00 plus 1.82% of excess over $ 30,000
$ 50,001 to $ 75,000 $ 1,386.00 plus 1.54% of excess over $ 50,000
$ 75,001 to $100,000 $ 1,771.00 plus 1.36% of excess over $ 75,000
$100,001 and over * $ 2,111.00 plus 1.19% of excess over $100,000
* Up to the Maximum Earnings Credit allowed (see page 2).
Table 3
Earnings Credit Annual Benefit for Current Service Credit Earned in
1996, 1997 and 1998
$ 7,500 to $ 50,000 $ 272.50 plus 3.5% of Earnings Credit over $ 7,500 **
$ 50,001 to $100,000 $ 1,760.00 plus 2.5% of excess over $ 50,000
$100,001 and over* $ 3,010.00 plus 1.5% of excess over $100,000
* Up to the Maximum Earnings Credit allowed (see page 2).
** If you earn a year of Pension Credit based on Earnings Credit of less than $7,500, or if your average earnings are less than $7,500, your annual Current Service Benefit for such Credit will be $272.50.
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Annual Current Service Benefit
The Annual Current Service Benefit is the greater of the amount determined under the Annual Earnings
method or the Average Earnings method. These methods are as follows:
Table 4
Earnings CreditAnnual Benefit for Current
Service Credit Earned after 1998 and prior to 2010
All earnings* 3.5% of all earnings
* Up to the Maximum Earnings Credit allowed (see page 2).
The formulas for calculating the amount of pension under the Plan are complicated. The Plan Office will be happy
to provide you with estimates of the amount of your pension.
Table 5
Earnings CreditAnnual Benefit for
Current Service Credit Earned in 2010 and later
All earnings* 2.0% of all earnings
* Up to the Maximum Earnings Credit allowed (see page 2).
Average Earnings Method
A. Determine your Average Earnings by adding your
Earnings Credit in each year of Current Service
Credit and dividing by the number of years of
Current Service Credit.
B. Apply the amount in A to the formula in Table 2
and multiply the result by the total years of Cur-
rent Service earned before 1996.
C. Apply the amount in A to the formula in Table 3
and multiply the result by the total years of Cur-
rent Service earned in 1996, 1997 and 1998.
D. Apply the amount in A to the formula in Table 4
and multiply the result by the total years of Cur-
rent Service Credit earned in 1999 through 2009.
E. Apply the amount in A to the formula in Table 5
and multiply the result by the total years of Cur-
rent Service Credit earned in 2010 and later.
F. Add the amounts determined in B, C, D and E.
This is your annual Current Service Benefit under
the Average Earnings Method.
Annual Earnings Method
A. Apply the Earnings Credit for each year of Current
Service Credit earned prior to 1996 to the formula
in Table 2.
B. Apply the Earnings Credit in each year of Current
Service Credit earned in 1996, 1997 and 1998 to
the formula in Table 3.
C. Apply the Earnings Credit in each year of Current
Service Credit earned in 1999 through 2009 to the
formula in Table 4.
D. Apply the Earnings Credit in each year of Current
Service Credit earned in 2010 and later to the
formula in Table 5.
E. Add the amounts determined in A, B, C and D
above. This is your annual Current Service Ben-
efit under the Annual Earnings Method.
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Delayed Retirement After 65
If your Annuity Starting Date is delayed beyond the
date on which you have reached age 65 and met the
eligibility requirements for a pension, your benefit
may be increased to reflect this delay. The adjust-
ment is based on actuarial tables. The Plan Office can
tell you how much this adjustment will be.
Mandatory Pension Distribution Dates
The Internal Revenue Service requires the Plan to
start to distribute pension benefits to certain Partici-
pants who have attained age 70-1/2. These manda-
tory distribution rules are similar to the distribution
rules for IRAs. The date benefits must commence
under the IRS rules is called the Required Begin-
ning Date. Your actual Required Beginning Date
depends on the year in which you reach age 70-1/2
and whether or not you continue working in covered
employment after that time.
If you attain age 70-1/2 in 1996 or later, your Required
Beginning Date is April 1st following the later of the
calendar year in which you reach age 70-1/2 or the
calendar year in which you retire. For purposes of
this rule only, you are considered to be retired if you
are not actually working in the industry, even if you
have sufficient residuals to earn a Pension Credit. The
Plan will notify you in writing when you reach your
Required Beginning Date.
EARLY RETIREMENT PENSION
If you want to retire before age 65, you may be eligible
for an Early Retirement Pension as early as age 55.
Monthly payments for an Early Retirement Pension
will be lower than for a Regular Pension. The amount
of reduction depends on your age when you retire.
Eligibility
You are eligible for an Early Retirement Pension if you
meet the following requirements:
1. You have attained age 55; and
2. You have at least 10 Pension Credits (excluding
Pension Credits earned under the Alternative
Eligibility Program).
Amount
If you retire on an Early Retirement Pension, you
are younger than you would be if your pension had
started at normal retirement age which means it
is likely that your pension will be paid for a lon-
ger period of time. Therefore, the amount of Early
Retirement Pension is reduced to compensate for
the extended duration of your pension benefits. The
reduced payments are designed to pay you ap-
proximately the same amount during your expected
lifetime as would have been paid to you over your
expected lifetime if you had retired at age 65. The
amount of the Early Retirement Pension is calculated
as follows:
1. Determine the amount of the Regular Pension
(before rounding) which would be payable if you
were age 65.
2. Reduce this amount by 1/4 of 1% for each month
you are younger than age 65.
3. Round the reduced amount up to the next high-
est multiple of 50¢ if it is not already a multiple
of 50¢.
Example: Let’s say you would qualify for a Regu-
lar Pension of $4,000 per month at age 65, but you
decide to retire at age 62. Your benefit would be re-
duced by 1/4 of 1% for each month you are younger
than 65 — in this case 36 months. The reduction is
36 months x 1/4 of 1%, or 9%. Your monthly ben-
efit would be $4,000 less 9% ($360) or $3,640 per
month. If you retire at age 60, the reduction in your
benefit would be 60 months x 1/4 of 1%, or 15%.
Your monthly benefit would be $4,000 less 15%
($600) or $3,400.
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DISABILITY PENSIONS
There are two types of Disability Pensions:
• A Disability Pension which applies to all types of
total disability; and
• An Occupational Disability Pension which ap-
plies to work-incurred total disabilities.
Eligibility for a Disability Pension
You are eligible for a Disability Pension if you meet all
of the following conditions:
1. You are Totally Disabled as defined by the Plan
(see page 60);
2. You are younger than age 65;
3. You have at least 10 Pension Credits (excluding
Pension Credits earned under the Alternative
Eligibility Program); and
4. You have at least one Pension Credit in the six
calendar year period preceding the date you
became disabled, or January 1, 1981 (whichever
is later), including the calendar year in which you
became disabled.
Eligibility for Occupational Disability Pension
You are eligible for an Occupational Disability Pen-
sion if you meet all of the following conditions:
1. You are Totally Disabled as defined by the Plan
(see page 60);
2. You are younger than age 65;
3. You have at least 5 Pension Credits (excluding
Pension Credit earned under the Alternative Eligi-
bility Program);
4. You have at least one Pension Credit in the six
calendar year period preceding the date you be-
came disabled, or July 1, 1994 (whichever is later)
including the calendar year in which you became
disabled; and
5. Your disability occurred in the course of employ-
ment covered by the Plan. This includes a dis-
ability caused by an injury which occurred at an
audition or rehearsal, during travel to or from
location or during preparation for production or
production.
Amount
Both types of Disability Pensions are calculated in the
same way as the Regular Pension. There is no reduc-
tion for age.
Proof of Total Disability
You will need to provide proof that you meet the
Plan’s definition of Total Disability. This proof in-
cludes both of the following:
1. The official determination by the U.S. Social
Security Administration that you are entitled to
Social Security Disability Benefits or Supplemen-
tal Security Income Disability Benefits, and
2. A completed Disability Certification from your
doctor, along with any necessary medical
evidence, indicating that you meet the Plan’s
definition of Total Disability. This Disability Cer-
tification will be reviewed by the Plan’s medical
consultant who will, based on the evidence pro-
vided, determine if you meet the Plan’s definition.
You will be asked to provide copies of your medi-
cal records, including results of laboratory tests.
For an Occupational Disability Pension, you will also
need to provide proof that your injury occurred dur-
ing the course of employment covered by the Plan.
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you had earned before you became disabled. When
you subsequently retire, there will be no reduction in
your benefits because of the fact that you received a
Disability Pension.
Changing from an Early Retirement Pension to a Disability Pension
Because you may experience a delay between the
onset of your total disability and the date you are
awarded your Social Security Disability benefit, you
may want to apply for an Early Retirement Pension
while you are waiting for Social Security benefits.
At such time as you are granted a Social Security
Disability benefit you may be entitled to change your
Early Retirement Pension to a Disability Pension. The
change can only be made if you meet all of the re-
quirements for a Disability or Occupational Disability
Pension, including satisfaction of the Plan’s definition
of Total Disability and the date Social Security deems
you totally disabled is on or before your Early Retire-
ment Pension Annuity Starting Date. Your request
for this change must be made in writing to the Plan
Office and you must provide a copy of your Social Se-
curity Disability benefit notice as well as other proof
that you meet the Plan’s definition of Total Disability.
If you meet all of the requirements the Annuity Start-
ing Date of your Disability Pension will be the first
of the month following the date of total disability as
determined by the Social Security Administration.
The monthly amount of the Disability Pension will be
determined in the same manner as a Regular Pen-
sion - that is, there is no reduction for age. If retroac-
tive payments are due as a result of changing from
Early Retirement to Disability Pension, the retroactive
amount is paid in a lump sum.
If you elect to change from an Early Retirement Pen-
sion to a Disability Pension, you may also elect to
change the form of pension payment you receive.
However, if you are married, you must have your
spouse’s consent to change your form of pension
payment.
IMPOrTAnT: The Pension Plan’s definition of Total
Disability is more restrictive than Social Security’s
definition. This means that you may not be entitled
to a Disability Pension from the Plan even if you are
receiving Social Security Disability benefits.
Disability Pension Annuity Starting Date
If you are eligible for a Disability Pension, the Annu-
ity Starting Date of your Disability Pension will be the
first of the month following the date of total disability
as determined by the Social Security Administration.
It is best to file your application for Disability or Oc-
cupational Disability Pension with the Plan Office at
the same time you apply for Social Security Disability
benefits. Submit your notice of entitlement promptly
when it is received to make sure pension payments
can start as soon as possible.
Duration of Disability Pension
Payment of a Disability Pension will continue for as
long as you remain Totally Disabled, as defined by
the Plan. If you are receiving a Disability Pension and
subsequently lose entitlement to Social Security Dis-
ability benefits or you recover sufficiently to be able
to return to work, you must report this to the Plan
Office within 30 days after the date of the notice of
discontinuance of Social Security Disability benefits
or the date of recovery.
Each year, the Plan Office will contact each Disability
Pensioner to request proof that they are still receiv-
ing Social Security Disability benefits and continue
to meet the Plan’s definition of Total Disability. If the
Disability Pensioner has had sessional employment
during the year, the Plan Office will also request infor-
mation regarding that employment.
If you return to work in employment covered by the
Plan after you recover, you can, of course, earn addi-
tional Pension Credit that will be added to the credits
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TERMINAL ILLNESS BENEFIT
Because Social Security can take up to a year to make
a disability determination, it is possible for terminally
ill participants to be left without any pension income
during their final months of life. For this reason, the
Plan has a Terminal Illness Benefit. This benefit pro-
vides a lump sum payment equal to one-half of the
Pre-Retirement Death Benefit that would be payable
upon your death.
Eligibility
You are eligible for a Terminal Illness Benefit if you
meet all of the following conditions:
1. You are younger than age 65;
2. You have at least 10 Pension Credits (excluding
Pension Credit earned under the Alternative Eligi-
bility Program);
3. You are Totally Disabled and Terminally Ill, as
defined by the Plan.
Definitions of Total Disability and Terminally Ill
You will be deemed Totally Disabled under the Termi-
nal Illness Benefit if you meet the definition on page
60 except that receipt of Social Security Disability
benefits is not required. You will be considered Ter-
minally Ill if a licensed physician certifies, in writing,
that you have a life expectancy of less than one year.
Important rules for the Terminal Illness Benefit:
• If you elect to receive a Terminal Illness
Benefit, you will not be entitled to receive a
Disability Pension.
• If you are married, your Spouse must consent
to the election of the Terminal Illness Benefit.
Amount
The amount of the Terminal Illness Benefit is equal
to one-half of the Pre-Retirement Death Benefit
that would otherwise be payable to your spouse or
beneficiary upon your death — that is, four times the
amount of the annual Current Service Benefit. The
Pre-Retirement Death Benefit is described on page
23. This amount is payable in a lump sum.
Upon your death, the amount of the Terminal Illness
Benefit is subtracted from the death benefit otherwise
payable. If you should survive to retire on a Regular or
Early Retirement Pension, the amount of the monthly
pension will be reduced to account for amounts you
have received as part of your Terminal Illness Benefit.
VESTED PENSION
Eligibility
You are eligible for a Vested Pension if you satisfy
one of the following requirements:
1. You have attained Normal Retirement Age and are
active at the time you reach Normal Retirement
Age or become active after that date. You are con-
sidered active for purposes of a Normal Retirement
Age Vested Pension in a calendar year in which
you earn a Current Service Pension Credit , or
2. You are age 65 and have satisfied the require-
ments for Limited Five-Year Vesting. A Vested
Pension under this provision is only available on
or after January 1, 1999.
Amount
The amount of Vested Pension is calculated in the same
manner as the Regular Pension based on your Pension
Credit, except that the $220 minimum monthly pension
does not apply. However, if you continue to work and
subsequently accumulate a total of 10 Pension Credits
you will then be eligible to convert from a Vested Pen-
sion to a Regular Pension as of the first month follow-
ing the month in which your tenth Pension Credit is
earned. At that time, the minimum will apply.
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SERVICE PENSION
Eligibility
You are eligible for a Service Pension if you meet all
of the following requirements:
1. You have attained age 55;
2. You have at least 10 Pension Credits;
3. You have earned at least 5 Pension Credits as
a Plan Office Participant or as a Guild Office
Participant;
4. The sum of your age and Pension Credits is equal
to at least 75;
5. You were not awarded an Early Retirement Pen-
sion prior to April 1, 1991; and
6. You were not awarded an Early Retirement Pen-
sion under the Screen Actors Guild Retirement
Plan prior to January 1, 2004.
Amount
The monthly amount of a Service Pension is calcu-
lated in the same manner as a Regular Pension. There
is no reduction for age.
PRO RATA PENSION
Pro Rata Pensions are provided for Actors who would
otherwise be ineligible for a pension because their
employment was divided between work creditable
under this Plan and work creditable under the Motion
Picture Industry Pension Plan. Under a Pro Rata Pen-
sion, credit you earned under Motion Picture Pension
Plan is combined with the credit you earned under
this Plan for purposes of determining your eligibility
for benefits. However, the amount of benefits paid by
this Plan will be based only on Pension Credit earned
under this Plan. Credit earned under the Motion Pic-
ture Industry Plan can also be used to determine eli-
gibility for the Death Before Retirement Benefit (see
pages 22 through 24). Credit under the Motion Picture
Industry Plan can only be considered for a Pro Rata
Pension if it has not been canceled due to a break in
service under that Plan.
Eligibility
You are eligible for a Pro Rata Pension if you meet all
of these requirements:
1. You would be eligible for a Regular, Disability or
Early Retirement Pension if your years of credit
under the Motion Picture Industry Pension Plan
were treated as Pension Credit under this Plan;
2. You have earned at least five years of Pension
Credit under this Plan and five years of Pension
Credit under the Motion Picture Industry Pension
Plan; and
3. You have earned at least one year of Current Ser-
vice Credit under this Plan after January 1, 1992.
Amount
The monthly amount of the Pro Rata Pension is calcu-
lated in the same manner as a Regular, Disability or
Early Retirement Pension (whichever is applicable) but
is based only on the Pension Credit earned under this
Plan. No benefit is paid from this Plan for your credits
under the Motion Picture Industry Pension Plan.
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Forms Of Pension Payment
to your designated beneficiary. There is no reduction
made to the pension amount for electing this form of
payment.
If you are married, the Five-Year Certain form of pay-
ment is available only if you and your Spouse have
rejected the 50% Joint and Survivor Pension.
50% JOINT AND SURVIVOR PENSION
note: Prior to July 1, 2011, this form of payment
was called the Husband and Wife Pension and
was only available to certain married Participants.
If you retired prior to July 1, 2011 and elected the
Husband and Wife Pension, the rules in effect for
that form of payment apply.
This is the normal form of benefit payment under
the Plan for married Participants and is available
as an option to Participants who have a Same-Sex
Domestic Partner. This form of payment provides a
monthly pension to you for your lifetime and, after
your death, a lifetime pension for your surviving
Spouse or Same-Sex Domestic Partner. Your sur-
viving Spouse or Same-Sex Domestic Partner will
receive monthly benefits equal to 50% of the amount
you were receiving when you died. For example, if
you were receiving a monthly 50% Joint and Survi-
vor Pension of $700 per month and died leaving a
Spouse, she would receive a monthly benefit of $350
per month for the rest of her life.
The 50% Joint and Survivor Pension extends protec-
tion over two lifetimes. Benefit levels are adjusted
accordingly. During your lifetime, you will receive
monthly benefits at a lower level than you would re-
ceive with the Five-Year Certain form. If your spouse
or partner is much younger than you, benefits will
be reduced more than if you were close to the same
age or if your spouse or partner is older than you.
The reason is that, statistically speaking, the younger
The Plan provides several forms of pension benefit
payment. When you apply for a pension, you will be
advised of the amount of payment under each form
of pension available to you. You will then be required
to select the form of payment you desire.
IMPOrTAnT: Once you have started to receive
pension benefits, you cannot change from one
form of pension payment to another, even if
additional earnings are received on your behalf,
your marital or domestic partnership status
changes, or if your Spouse, Same-Sex Domestic
Partner or contingent annuitant dies before you.
There are limited exceptions to this rule for a Dis-
ability Pensioner who recovers from his disability
and returns to work or for an Early Retirement
Pensioner who converts his Early Retirement Pen-
sion to a Disability Pension.
AUTOMATIC LUMP SUM PAYMENT
Regardless of the type of pension you qualify for, if
the actuarial value of your lifetime pension is $1,000
or less, your pension will automatically be paid in one
lump sum instead of monthly payments. If the actu-
arial value of your lifetime pension is between $1,000
and $5,000, you may elect to receive a lump sum
payment instead of monthly payments. You will be
advised when you apply for pension if you are subject
to these lump sum payment provisions.
FIVE-YEAR CERTAIN
This is the normal form of benefit payment under
the Plan for unmarried participants and Participants
who have a Same-Sex Domestic Partner. This form
of payment provides a monthly pension to you
for your lifetime with the guarantee that if you die
before receiving 60 monthly pension payments, the
remainder of the 60 monthly payments will be paid
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spouse or partner is likely to receive benefits over a
longer period of time. The monthly amount of pen-
sion payable to you and your spouse or partner under
the 50% Joint and Survivor Pension is based on the
life expectancy of you and your spouse or partner. To
obtain an estimate of the amounts, please contact the
Plan Office.
If you are married, your pension will be paid on the
basis of the 50% Joint and Survivor Pension unless
you and your Spouse complete and sign a notarized
statement rejecting the 50% Joint and Survivor Pen-
sion and electing another form of payment. Any re-
jection of the 50% Joint and Survivor Pension that is
made more than 180 days before the Annuity Starting
Date of your pension is not valid and a new rejection
form must be completed.
Special Rules for the 50% Joint and Survivor Pension
1. The 50% Joint and Survivor Pension only applies
to your Spouse or Same-Sex Domestic Partner at
the time your pension payments start.
2. Once payments have begun on a 50% Joint and
Survivor Pension, they will continue at the same
level even if your spouse or partner should die
before you or the marriage or partnership should
be dissolved. Please refer to the Pop-Up-Option
on page 19.
3. Payments to the surviving spouse or partner con-
tinue for life and are not affected by remarriage.
4. If your spouse or partner dies before you but
after pension payments have begun, all pension
payments will stop with your death.
75% AND 100% JOINT AND SURVIVOR
OPTIONS
There are two other Joint and Survivor Options
available under the Plan: These Joint and Survivor
Options provide a reduced monthly pension to you
for your lifetime, with 75% or 100% of the amount of
your monthly pension (whichever you elect when you
retire) continuing after your death for the lifetime of a
contingent annuitant named by you. Your contingent
annuitant may be anyone you choose, subject to the
limits on age differences explained below. The 75%
Joint and Survivor Option is only available if you
retire on and after January 1, 2008.
If you are married, these options are available only
if you and your Spouse have rejected the 50% Joint
and Survivor Pension.
Because the Joint and Survivor Options provide
benefits over two lifetimes, the benefit amount is re-
duced from the amount you would receive under the
Five-Year Certain form. The monthly amount of pen-
sion payable to you and your contingent annuitant is
based on the Joint and Survivor Option you elect and
the life expectancy of you and your contingent an-
nuitant. To obtain an estimate of the amounts payable
under these Options, please contact the Plan Office.
Special Rules for the Joint and Survivor Options
1. Election of a Joint and Survivor Option must be
made in writing on a form prescribed by the Plan
Trustees and filed with the Plan Office prior to the
date the first pension payment is made.
2. The 75% Joint and Survivor Option will be reduced
below the full amount if the contingent annuitant is
not the Participant’s Spouse or Same-Sex Do-
mestic Partner and is more than 19 years younger
than the Participant. The 100% Joint and Survivor
Option will be reduced below the full amount if
the contingent annuitant is not the Participant’s
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Spouse or Same-Sex Domestic Partner and is
more than 10 years younger than the Participant.
3. A Joint and Survivor Option will take effect only
if you and your contingent annuitant are both
alive on the date when it is otherwise to take
effect.
4. Once payments have begun on a Joint and Survi-
vor Option, the reduced payments will continue
at the same level. This is true even if your contin-
gent annuitant should die before you or, if your
contingent annuitant is your Spouse and you
subsequently divorce, or if your co-annuitant is
your Same-Sex Domestic Partner, and your part-
nership is dissolved. Please refer to the Pop-Up
Option on this page.
5. Once elected, the Joint and Survivor Option may
only be revoked in writing on a form prescribed
by the Plan Trustees and filed with the Plan office
prior to the date the first pension payment is
made.
Exception: The Option will be automatically
revoked if the contingent annuitant dies (or if
the contingent annuitant is your Spouse, you are
divorced or if the contingent annuitant is your
Same-Sex Domestic Partner, your partnership
is terminated) before a pension in the optional
form becomes payable. In such event, you may
continue the Option if within 90 days of such an
event you make a choice of another contingent
annuitant and communicate it to the Plan Office
in writing.
6. You may not change your contingent annuitant
once payments have commenced. This is be-
cause the amount of payment is based on your
age and the age of the contingent annuitant you
select at retirement.
7. The Joint and Survivor Option is not payable if it
would result in a monthly benefit of less than $30
to the Participant or the beneficiary.
POP-UP OPTION
You may elect the 50%, 75% or 100% Joint and Survi-
vor Options with a “Pop-Up Option”.
The Pop-Up Option reduces the monthly amount that
would otherwise be payable under the 50% Joint
and Survivor Pension or the 75% or 100% Joint and
Survivor Options. However, it guarantees that if your
spouse, partner or contingent annuitant dies be-
fore you, your monthly benefit will be increased (or
popped up) to the amount that would have been pay-
able to you had your benefit been paid as a Five-Year
Certain at retirement. By contrast, without the Pop-
Up Option, your monthly payments are not increased
if your spouse, partner or contingent annuitant dies
first.
If you are married, your Spouse must consent to the
Pop-Up Option.
Because the Pop-Up Option provides an additional
guarantee, the monthly pension amount is reduced
more than it would be under either the 50% Joint and
Survivor Pension or Joint and Survivor Options with-
out the Pop-Up Option. To obtain an estimate of the
monthly amounts, please contact the Plan Office.
If you elect a Pop-Up Option and your spouse, partner
or contingent annuitant dies, you should send a certi-
fied copy of the death certificate to the Plan Office as
soon as possible. The increased (popped-up) monthly
benefit amount will become effective on the first of
the month following the date of death. The increased
monthly benefit will be payable for your lifetime and
all payments will stop upon your death. However, if
you die before receiving a total of 60 monthly pay-
ments (including all payments before and after the
pop-up), the remainder of the 60 monthly payments
will be paid to your designated beneficiary.
20
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TEN-YEAR CERTAIN OPTION
If you are eligible for any type of pension other than
a Disability or Occupational Disability Pension, you
may elect to receive a Ten-Year Certain Option. This
Option provides a reduced monthly pension to you
for your lifetime with the guarantee that if you die
before receiving 120 pension payments, the remain-
der of the 120 monthly payments will be paid to your
designated beneficiary. Payments to your beneficiary
will continue until a total of 120 payments have been
made to you and your beneficiary combined.
If you are married, this option is available only if you
and your Spouse have rejected the 50% Joint and
Survivor Pension.
The amount of the reduction for the Ten-Year Certain
Option is determined based on your age on the An-
nuity Starting Date of your pension, according to the
table to the right.
Age of Participant on Effective Date
Factor (%)
55 98.2056 98.0157 97.8058 97.5659 97.2960 96.9861 96.6462 96.2563 95.8164 95.3365 94.7966 94.2067 93.5568 92.8669 92.1270 91.3271 90.4672 89.5473 88.5574 87.5075 86.3776 85.1977 83.9678 82.6979 81.4180 80.1081 78.8082 77.4983 76.2184 74.9585 73.7286 72.5487 71.3988 70.2989 69.2390 68.20
Example: You are age 57 and eligible for an Early
Retirement Pension in the amount of $600 per month.
If you elect the Ten-Year Certain Option, your benefit
will be reduced to $586.80 ($600 x 97.80%).
Special Rules for the Ten-Year Certain Option
1. Election of the Ten Year-Certain Option must be
made in writing on a form prescribed by the Plan
Trustees and filed with the Plan Office prior to the
date the first pension payment is made.
2. Revocation of the Ten-Year-Certain Option must
be made in writing on a form prescribed by the
Plan Trustees and filed with the Plan Office prior
to the effective date of the pension.
3. The Ten Year-Certain Option is not available if it
would result in a monthly pension of less than
$30 to you or your beneficiary, nor is it available
if your life expectancy or the joint life expectancy
of you and your beneficiary is less than 10 years.
Pe
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PARTIAL LUMP SUM OPTION
The Partial Lump Sum Option allows you to receive
part of your pension in a lump sum. If you elect this
option you will receive, at retirement, a lump sum
payment equal to twelve times the monthly payment
you would have received under the Five-Year Certain
form of payment. Starting with the month after the
lump sum payment is made, the rest of your pension
will be paid in monthly payments for the rest of your
life based on the form of payment you elect.
You may elect to receive the monthly payments under
any form of payment provided by the Plan but the
amount of the monthly payments will be reduced to
take into account the lump sum payment. The amount
of reduction is based on actuarial factors in effect at
the time the pension first becomes payable.
For example, if you retire at age 65 with a monthly
benefit of $1,200 under the Five Year Certain form of
payment, you would receive $14,400 in a lump sum
(12 x $1,200) and monthly payments of $1,083.50
thereafter for the rest of your life. If you elect the 50%
Joint and Survivor Pension or any optional form of
payment, the monthly payments would be further
reduced in accordance with the rules for the form of
payment selected.
If you have additional earnings credit after the lump
sum is paid, your monthly payments will be increased
to reflect the additional benefits but no additional
lump sum payment will be made.
If you are married, your Spouse must consent to the
election of the Partial Lump Sum Option.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
22
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ath
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fore
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fits
Death Before Retirement Benefits
For example, if you are 55 or older and have at least
10 Pension Credits on the date of death, benefits to
your Spouse will commence the first of the month
following your death. However, if you die prior to 55
and have at least 10 Pension Credits, benefits to your
Spouse will commence the first of the month follow-
ing the month in which you would have reached age
55 had you lived.
Benefits under the Pre-Retirement 50% Joint and Sur-
vivor Pension to a Same-Sex Domestic Partner will be
paid monthly for life beginning on the first day of the
month following the date of death. Benefits will be
equal to 50% of the benefits you would have received
under the 50% Joint and Survivor Pension as if you
had terminated employment on your date of death,
and reduced actuarially for early commencement.
If you are age 65 or older on the date of death, ben-
efits to your spouse or partner will commence the
first of the month following your death.
Your Spouse may elect to defer the commencement
of payments, but only until the date you would have
reached age 70-1/2 had you lived. This election to
defer commencement of payments is not available to
Same-Sex Domestic Partners.
IMPOrTAnT: Your surviving Spouse or Same-Sex
Domestic Partner may, within 90 days of receiv-
ing written notice from the Plan Office, elect to
receive the Pre-Retirement Death Benefit (see
page 23) or the Pre-Retirement 100% Joint and
Survivor Pension (see page 23), instead of the
Pre-Retirement 50% Joint and Survivor Pen-
sion. In no event will your Spouse or Same-Sex
Domestic Partner receive less than the actuarial
value of the Pre-Retirement 50% Joint and Sur-
vivor Pension and the amount of Pre-Retirement
Death Benefit shall be adjusted, if necessary, to
equal the actuarial value of the Pre-Retirement
50% Joint and Survivor Pension.
The following benefits may be payable if you die be-
fore retirement benefits have commenced.
PRE-RETIREMENT 50% JOINT AND
SURVIVOR PENSION
note: Prior to July 1, 2011, this benefit was called
the Pre-Retirement Husband and Wife Pension and
was only available to certain married Participants.
If the Participant’s death occurred prior to July 1,
2011, the provisions of the previous Pre-Retirement
Husband and Wife Pension apply.
If you are married and die before retirement but
after meeting the service requirements for pension
(including a Pro Rata Pension), your Spouse will
automatically be entitled to the Pre-Retirement 50%
Joint and Survivor Pension. If you have a Same-Sex
Domestic Partner, the Pre-Retirement 50% Joint
and Survivor Pension is not automatic, but may be
elected by your Same-Sex Domestic Partner if they
have been named as your primary beneficiary on
your Beneficiary Designation Form. This benefit is
available even if you do not meet the age requirement
for a pension at the time of death.
Your Spouse will receive these benefits regardless of
who is named as your designated beneficiary on your
Beneficiary Designation Form. Your Same-Sex Do-
mestic Partner may elect this benefit only if they are
named as the primary beneficiary on your Beneficiary
Designation Form. Please refer to page 24 for details
on designating a beneficiary.
Under the Pre-Retirement 50% Joint and Survivor
Pension, your surviving Spouse will receive monthly
benefits for life equal to 50% of the benefits you
would have received under the 50% Joint and Sur-
vivor Pension determined as if you had terminated
employment on your date of death and survived until
your earliest retirement date.
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De
ath
Be
fore
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tirem
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fits
The Pre-Retirement 50% Joint and Survivor Pension
is only payable if you and your Spouse have been
married throughout the one-year period prior to your
death or, if you have a Same-Sex Domestic Partner,
the partnership has been in effect throughout the
one-year period prior to your death.
PRE-RETIREMENT 100% JOINT AND
SURVIVOR PENSION
The following Pre-Retirement 100% Joint and Survi-
vor Pension is not payable if payments are payable
to your Spouse under the Pre-Retirement 50% Joint
and Survivor Pension, unless your surviving Spouse
has elected, within 90 days of receiving written notice
from the Plan, to receive the Pre-Retirement 100%
Joint and Survivor Pension instead of the Pre-Retire-
ment 50% Joint and Survivor Pension. The 100% Joint
and Survivor Pension may be elected by your Same-
Sex Domestic Partner within the same 90-day period
provided they were named as the primary beneficiary
on your Beneficiary Designation Form.
If you die before retirement but after meeting the age
and service requirements for pension, your surviving
Spouse or Same-Sex Domestic Partner may elect to
receive the Pre-Retirement 100% Joint and Survivor
Pension. The monthly amount payable to the surviv-
ing spouse or partner is equal to the monthly benefit
that would have been payable to you under the 100%
Joint and Survivor Option as described on pages 18
through 19 had you retired on the day before your
death. If this benefit is elected, no benefits are pay-
able under the Pre-Retirement 50% Joint and Survi-
vor Pension or the Pre-Retirement Death Benefits.
Benefits to your spouse or partner will commence
with the month following the month in which you
died.
PRE-RETIREMENT DEATH BENEFITS
The following Pre-Retirement Death Benefits are au-
tomatically payable to your beneficiary if you are not
legally married or do not have a Same Sex Domestic
Partner listed on your beneficiary form. They are
not payable if payments are payable to your Spouse
under the Pre-Retirement 50% Joint and Survivor
Pension, unless your Spouse has elected, within 90
days of receiving written notice from the Plan, to re-
ceive the Pre-Retirement Death Benefit instead of the
Pre-Retirement 50% Joint and Survivor Pension. The
following benefits are available as an option to your
Same-Sex Domestic Partner provided they have been
named as the primary beneficiary on your Beneficiary
Designation Form.
1. Death Before Age 65. If you are younger than age
65 and have at least 5 Pension Credits without a
Permanent Break in Service (or at least 8 Pen-
sion Credits including Pension Credits prior to
a Permanent Break in Service), a Lump Sum
Death Benefit is payable to your beneficiary. The
amount of Death Benefit is equal to four times the
annual Current Service Benefit earned at the time
of death, but not less than $1,500. The benefi-
ciary may, within 90 days after receiving written
notice from the Plan, elect to receive this benefit
in 60 equal monthly installments instead of a
lump sum. The amount of the monthly payment
is determined by dividing the lump sum payment
by 60.
2. Death After Age 65. If you are age 65 or older
and have at least 10 Pension Credits, a Death
Benefit of 60 monthly payments is payable to
your beneficiary. The monthly amount of each
payment is equal to the monthly amount of
Regular Pension you would have been entitled to
receive if you had retired on your date of death.
The beneficiary may, within 90 days after receiv-
ing written notice from the Plan, elect to receive
these benefits in a single lump sum payment
instead of 60 monthly installments. The lump
24
De
ath
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fore
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tirem
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t Be
ne
fits
sum payment is determined by multiplying the
monthly payment by 60.
If you are age 65 or older and have at least 5
Pension Credits without a Permanent Break in
Service (or at least 8 Pension Credits, including
Pension Credits prior to a Permanent Break in
Service), the Lump Sum Death Benefit described
under 1. above is payable to your beneficiary. The
beneficiary may, within 90 days after receiving
notice from the Plan, elect to receive this benefit
in 60 equal monthly installments instead of a
lump sum. The amount of the monthly payment
is determined by dividing the lump sum payment
by 60.
DESIGNATING A BENEFICIARY
You may designate a beneficiary to receive any pay-
ments due upon your death that are not automatically
payable to your surviving Spouse by completing a
Beneficiary Designation Form. You will be asked to list
at least one primary and one secondary beneficiary.
However, you may list more if you wish. You may
change your beneficiary at any time prior to your re-
tirement by completing a new Beneficiary Designation
Form and filing it with the Plan Office.
If you want your Same-Sex Domestic Partner to re-
ceive benefits payable from the Plan if you die before
retirement, you must name them as your sole pri-
mary beneficiary.
If you do not designate a beneficiary, death benefits
will be paid to the first surviving of the following: (1)
your surviving Spouse, (2) your surviving children, (3)
your surviving brothers and sisters, (4) your surviving
parents, (5) any other person who is the object of your
natural bounty as determined by the Board of Trustees.
Special note: The beneficiary you list on the Ben-
eficiary Designation Form will not be entitled to
receive the benefits payable from the Pension Plan
upon your death if:
1. Your Spouse is entitled to the automatic Pre-
Retirement 50% Joint and Survivor Pension; or
2. You die after beginning to receive pension ben-
efits. When you apply for a pension, you will
be required to complete a separate beneficiary
designation form that applies to post-retire-
ment death benefits.
Please contact the Plan Office if you have any ques-
tions about designating a beneficiary.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
25
Su
sp
en
sion
Of P
en
sion
Pa
ym
en
ts Fo
r Ce
rtain
Em
plo
ym
en
t Afte
r Re
tirem
en
t
Suspension Of Pension Payments For Certain Employment After Retirement
player rates under the most recent TV and Theatrical
Agreements are as follows:
PeriodTV & Theatrical Minimum Day
Player Rate
Sessional Earnings Limit for Suspension
July 1, 2011 – June 30, 2012 825.00 5,800
July 1, 2012 – June 30, 2013 842.00 5,900
July 1, 2013 – June 30, 2014 859.00 6,100
Once you stop working in prohibited employment,
you will start to receive your pension again in the
same amount you were receiving prior to the sus-
pension. At the end of the calendar year, your total
earnings (sessions and residuals) will be reviewed.
If your total earnings for the calendar year equal or
exceed the minimum earnings required to earn a
Pension Credit ($20,000 for 2012) your pension will be
recalculated when you reach age 65 based on all of
the earnings reported in that calendar year, subject to
the Plan’s minimum and maximum pension amounts.
Because the additional benefit is paid at age 65, it
will not be reduced for age. If your total earnings for
the calendar year are less than the minimum earn-
ings required to earn a Pension Credit, the amount of
pension that was suspended during that year will be
refunded to you.
For example: If you work and earn $6,000 in sessional
earnings in April 2012 your pension will be suspended
for April. If you have no other earnings during 2012, the
amount of pension that was suspended will be refund-
ed to you but no additional accrual will be provided.
However, if you work and earn $6,000 in April and have
total earnings during 2012 of $20,000, your suspended
benefits will not be immediately refunded but you will
receive additional benefit accrual for the $20,000, pay-
In order to receive a monthly pension from this Plan,
you must retire and you cannot perform work which
is prohibited by the Plan rules.
If you are age 65 or older, you may be employed in
any capacity after retirement and still be entitled to
receive your pension. If you are younger than age 65,
your pension will be suspended for the following type
and duration of employment:
RETIREMENT PRIOR TO
JANUARY 1, 1999
If you retired prior to January 1, 1999, your pension
will be suspended for any month prior in which you
are younger than age 65 and have sessional earnings
that exceed the minimum earnings required to earn
a year of Pension Credit ($20,000 in 2012). Once you
stop working in prohibited employment, your pen-
sion will start in the same amount you were receiving
prior to the suspension. When you reach age 65, you
will be entitled to an increased pension based on the
earnings (sessions and residuals) credited during
the months in which you pension was suspended,
subject to the Plan’s minimum and maximum pension
amounts. The additional benefit amount will not be
subject to reduction for age.
RETIREMENT AFTER JANUARY 1, 1999
If you retire on or after January 1, 1999, your pension
will be suspended for any month in which you are
younger than age 65 and have sessional earnings that
equal or exceed an amount equal to 7 days multiplied
by the minimum day player rate under the TV and
Theatrical Agreement, rounded up to the next $100.
The minimum day player rate in effect on January 1,
2012 is $825.00. Therefore, your benefit will be sus-
pended if you have sessional earnings of $5,800.00
(7 days x $825 = $5,775.00, rounded up to the next
$100) or more in a calendar month. The minimum day
26
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able at age 65 without reduction for age, subject to the
Plan’s minimum and maximum pension amounts.
You must notify the Plan Office, in writing, within 15
days of engaging in prohibited employment. If your
benefits are suspended you have the right to appeal
that determination by filing a written request for ap-
peal with the Trustees within 60 days of the notice of
suspension.
If your pension is suspended, you must advise the Plan
Office when you stopped or will stop working in pro-
hibited employment and the first month for which you
would like your benefits to begin again. At that time,
the Plan Office will examine the circumstances of the
employment and advise how the recovery of any im-
properly made payments will be scheduled. The Trust-
ees will offset the amount of any pension payments
made which should have been suspended against fu-
ture monthly pension payments. The amount of offset
will be the maximum allowed by the law.
The text of the Plan rules concerning suspension of
benefits can be found on page 88 of this booklet. The
applicable Department of Labor regulations govern-
ing suspension of benefits under pension plans may
be found in Section 2530.203-3 of Title 29 of the Code
of Federal Regulations.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
Pe
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Pla
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Po
st-Re
tirem
en
t Be
ne
fit Accru
als
Post-Retirement Benefit Accruals
ADDITIONAL EARNINGS AFTER AGE 65
If you are age 65 or older, you will be entitled to an
increased pension (subject to the maximum pension
amount) for additional Earnings Credit on and after
your 65th birthday (including residuals) received after
retirement for any calendar year after 1991 in which
you have sufficient earnings (including residuals) to
earn a Pension Credit as outlined on page 4.
The increased pension is calculated annually and is
effective January 1st. However, in order to make sure
that the Plan Office has received all of your earnings
from a calendar year before your pension is adjusted,
the actual adjustment will be done in April or May of
each year. Any increase will be retroactive to January
1st. Any additional benefit will be paid in the same
form of payment you were previously receiving.
ADDITIONAL EARNINGS BEFORE AGE 65
If you are younger than age 65 and your benefits are
suspended, you may be entitled to an increased pen-
sion at age 65 based on the Earnings Credit received
during the periods of suspension. Please refer to
page 25 for the specific rules.
Your maximum pension amount will be based only
on the Pension Credits used in the calculation of
your benefit. If you earned a Pension Credit but your
pension was not suspended, that Credit will not be
included in the calculation of your increased benefit
nor will it be used to determine your maximum
benefit tier.
If you do not have a Spouse or Same-Sex Domestic
Partner when you reach age 65, the additional benefit
will automatically be paid in the Five-Year Certain
form unless you elect to receive the benefit in the
same form you were receiving when you first retired.
If you have a Spouse or Same-Sex Domestic Partner
when you reach age 65 and elected the 50% Joint and
Survivor Pension (formerly the Husband and Wife
Pension) when you first retired, the additional ben-
efits will be paid in that form unless you reject it and
elect payment in the Five-Year Certain form. If you
have a Spouse when you reach age 65 and elected a
form of payment other than the 50% Joint and Survi-
vor Pension (formerly the Husband and Wife Pension)
when you first retired, the additional benefit will be
paid as the 50% Joint and Survivor Pension unless
you reject it and elect your previous form of payment.
Any rejection of the 50% Joint and Survivor Pension
requires the written consent of your Spouse.
28
Ho
w T
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pp
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or B
en
efits
How To Apply For Benefits
IF YOU ARE APPLYING FOR A
DISABILITY PENSION
For a Disability or Occupational Disability Pension
you must also provide proof that you meet the Plan’s
definition of Total Disability. This includes a copy of
your notice of entitlement to Social Security Disability
benefits which you receive from the U.S. Social Se-
curity Administration and the Disability Certification
Form completed by your doctor. Certification Forms
are available from the Plan Office. You may also be
asked to provide copies of additional documentation
including your medical records and laboratory test
results.
Additionally, you must provide a copy of your birth
certificate or other proof of your date of birth. If you
are applying for the 50% Joint and Survivor Pension,
a recorded marriage certificate and your spouse’s
birth certificate must also be submitted. If you have
a Same-Sex Domestic Partner, you must provide the
Affidavit of Domestic Partnership on a form provided
by the Plan.
APPLICATION FOR DEATH BENEFITS
If you die before retirement, your surviving spouse
or beneficiary must file an application with the Plan
Office for death benefits that may be due (see section
on “Death Before Retirement Benefits,” beginning on
page 22).
To make it possible for payments to begin with mini-
mum delay, the spouse, beneficiary or a representa-
tive should contact the Plan Office as soon as pos-
sible after your death.
The Plan Office will provide information to properly
authorized personal representatives on your eligibili-
ty and possible benefits due as a result of your death.
When you decide to retire, be sure to contact the
Plan Office promptly and apply for benefits. You will
be considered as having applied for a pension only
when your completed application has been received
by the Plan Office. Payments cannot begin before
the completed application and all other required
forms and documents have been received. The Plan
has a general rule that it will not pay benefits for any
months before you apply. Unless you notify the Plan
Office, we will assume that you are still working so
that pension benefits are not yet payable to you. If
you retire but delay filing, you may lose benefits for
the months of delay.
When you request an application from the Plan
Office, you can also obtain information about your
Pension Credits, benefits, options and any other in-
formation which will help you to make your decisions
and complete the application. Application and other
pension forms are also available on the Plan’s Web
site at www.sagph.org.
Along with your application, you must provide a copy
of your birth certificate or other proof of your date
of birth. If you are married, a copy of your recorded
marriage certificate must be provided. If you have a
Same-Sex Domestic Partner, you must provide the
Affidavit of Domestic Partnership on a form provided
by the Plan. If you are applying for the 50% Joint and
Survivor Pension, your spouse’s or partner’s birth
certificate must also be submitted. If you are apply-
ing for the 75% or 100% Joint and Survivor Option,
your contingent annuitant’s birth certificate must be
submitted. The Trustees reserve the right to require
any additional documentation to substantiate your
pension application
29
Annuity Starting Dates (Effective Dates)
The date your pension commences is called the An-
nuity Starting Date or the Effective Date.
Pensions are usually effective on the first day of the
month after the completed pension application has
been received by the Plan Office. Commencement
of payments may be delayed due to administrative
processing. However, once payments commence,
they will be retroactive to the first of the month
following receipt of the application, subject to the
retroactive annuity starting date rules outlined
below.
Disability Pension payments are effective the first
of the month following the date you became totally
disabled as determined in the Social Security Dis-
ability Award. To assure that your pension benefits
will be payable as early as possible, it is advisable
to file your pension application with the Plan Office
at the same time that you apply for Social Security
Disability benefits, and promptly send the notice of
entitlement you receive from Social Security to the
Plan Office.
The Plan Office is required to provide you with a
written notice of all of the optional forms of payment
available to you at least 30 days but not more than
180 days immediately preceding your Annuity Start-
ing Date as determined above. In the event this notice
is not timely provided, you will be given the option
of electing to have your benefits commence retroac-
tive to the original Annuity Starting Date with interest
paid from that date to the date the first check is paid
to you or to have your benefits commence prospec-
tively with an actuarial increase to account for the
missed payments.
Methods Of Receiving Pension Payments
You may elect to receive your monthly pension by
having it directly deposited to a checking or sav-
ings account or by having it mailed to your address.
The Trustees strongly urge pensioners to have
their checks directly deposited into a bank account.
This is more secure as the checks are not subject
to theft from your mail box. In addition, you can be
assured that your pension payment will be in your
account on the 1st of the month and avoid potential
delays of the mail. Direct deposits cannot be made
to any banking institution outside of the United
States.
Annual Pensioner Verification
Once you have started to receive your pension, you
will receive an annual verification form from the Plan
Office. The purpose of this verification is to ensure
that you are receiving your monthly pension. If you
do not complete the form and return it in a timely
manner to the Plan Office, your pension payments
will be suspended until the completed form is
received.
An
nu
ity S
tartin
g D
ate
s; M
eth
od
s Of R
ec
eiv
ing
Pe
nsio
n P
ay
me
nts
; An
nu
al P
en
sion
er V
erific
atio
n
30
Ho
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o A
pp
ea
l A D
ec
ision
Of T
he
Tru
ste
es
; Qu
alifie
d D
om
es
tic Re
latio
ns O
rde
rs
How To Appeal A Decision Of The Trustees
Office along with copies of whatever substantiating
evidence you may have.
The Board of Trustees has delegated to the Benefits
Committee, the authority to investigate and decide
appeals. The Benefits Committee may hold a hear-
ing if the appeal involves presentation of evidence or
argument that the Board feels cannot be presented
satisfactorily by correspondence. Appeals will usually
be decided within 60 days, but it may take up to 120
days if circumstances, such as the scheduling of a
meeting of the Benefits Committee, make additional
time necessary. You will be notified of the appeal
decision in writing.
The complete Claim and Appeals rules can be found
on pages 15 and 16 of this booklet.
If your application for pension or death benefits is
turned down, or any part of it is denied, the Trustees
must notify you within 90 days (45 days in the case
of a Disability Pension application). The notice must
explain the reasons for the denial and outline what
you can do to request reconsideration by the Board
and to justify the claim. There may be special circum-
stances which will make additional time necessary, in
which case the Board may take up to an additional 90
days (30 days in the case of a Disability Pension ap-
plication). However, the Board must notify you of the
delay and the reasons for it.
If you disagree with the decision, a request for review
(appeal) must be made within 60 days (180 days in
the case of a Disability Pension application). The
request must be in writing and state the reasons for
disputing the decision. Send your request to the Plan
Qualified Domestic Relations Orders
The Plan is required to pay benefits in accordance
with the provisions of a Qualified Domestic Rela-
tions Order (QDRO). A Domestic Relations Order
(DRO) is a court order which is issued pursuant to
a state domestic relations law and which relates to
the provisions of marital property rights. In order to
be considered a Qualified Domestic Relations Order,
the order must contain certain specific provisions
with respect to the benefits under the Plan. When
the Plan receives a proposed DRO, it follows spe-
cific procedures as required by applicable law in
determining whether a domestic relations order is
qualified. The Plan also has model QDROs that are
available to participants and their attorneys, along
with a copy of the Plan’s procedures with respect to
QDROs. This information is available free of charge.
If you have any questions regarding QDROs, you
should contact the Plan Office.
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and appropriate to recover the overpayment. This
may include withholding of future benefit payments
or requiring the individual to repay the overpaid
benefits.
Overpayments
If for any reason payment of benefits to an in-
dividual under this Plan exceeds the amount of
benefits that should have been paid, the Trustees
are entitled to take any and all actions necessary
Website Information and e-Communications
www.sagph.org
Website Information
Even if you do not register, you can receive important
information about the Pension Plan on the website,
including the current Plan document, the Summary
Plan Description, benefit summary information, Take
2 Newsletters, forms, and links to retirement-related
websites.
If you register for a password, you can also receive
personal information regarding the earnings reported
to the Plan on your behalf and you can estimate the
benefits you may be entitled to receive at retirement.
e-Communications
You can sign up for e-Communications if you have a
valid email address on file with the Plans. Simply go
to the website and register for e-Communications.
This will enable you to receive important Plan in-
formation, including the Summary Plan Description
booklet, Take 2 Newsletters and Annual Summary
of Earnings via e-mail. This reduces your paper files
and also saves the Plan money. E-Communications is
convenient and secure.
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www.sagph.org
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This report is generally mailed during April or May.
For this reason, it is important that the Plan Office
be kept advised of any changes in your permanent
address.
You may also access your personal account on the
website (www.sagph.org) at any time.
Can a Participant or Beneficiary appeal if benefits are denied?
Yes. Anyone whose application for benefits under the
Plan has been denied (in whole or in part) will be pro-
vided a notice in writing, stating the reason for denial.
Within 60 days (180 days in the case of a Disability
Pension application) of the date you receive that no-
tice, you may appeal the decision of the Trustees. The
decision of the Trustees regarding the appeal will be
sent to you no later than 60 days after the appeal was
filed, unless special circumstances require an exten-
sion of time, in which case the decision of the Trust-
ees will be sent to you no later than 120 days after the
appeal was filed. The rules and procedures for filing
an appeal are in Article VIII, Section 4 of the Pension
Plan (page 82). Explanatory material is on page 38.
How is the Beneficiary designated? May the Beneficiary be changed?
Pre-retirement Death
You may designate your beneficiary(ies) on the Bene-
ficiary Designation Form. The beneficiary designated
on the form most recently filed with the Plan Office
will be entitled to any Pre-Retirement Death Benefits
that may be payable upon your death with the follow-
ing exception:
If you die before retirement at a time when you have
met the requirements for a Vested Pension (you have
10 years of Pension Credit or have reached Normal
Retirement Age) and have been married for at least
12 months to your surviving Spouse, your surviving
Spouse will automatically receive payments under
the Pre-Retirement 50% Joint and Survivor Pension.
Some Questions and Answers About The Plan
Who administers the Plan?
The Pension Plan is administered by the Board of
Trustees which is made up equally of representatives
of the Screen Actors Guild and of the Producers. The
actions of the Trustees in governing the Pension Trust
Fund are ruled by a Trust Agreement. This provides
that all money paid into the Pension Trust Fund or
earned by the Pension Trust Fund can be used only
for the purpose of providing benefits for the Plan par-
ticipants and their beneficiaries and for reasonable
expenses in administering the Plan.
The full text of the Pension Plan Document is part of
this book (beginning on page 43). The Trustees may
amend or interpret the Plan from time to time. The
Trustees will make every effort to assure that par-
ticipants are informed of any material changes in the
Plan.
Who is covered by the Plan?
The Plan covers individuals who work as actors or as
other performers in theatrical motion pictures, televi-
sion motion pictures, television commercials, indus-
trial or educational motion pictures, public television,
music videos and interactive media projects. This
employment must be performed for producers who
have signed collective bargaining agreements with
SAG-AFTRA under which contributions are made in
accordance with the Pension Plan Trust Agreement.
The Plan also covers employees of the Screen Actors
Guild – Producers Pension Plan, the Screen Actors
Guild – Producers Industry Advancement and Coop-
erative Fund, the SAG-AFTRA, and the Screen Actors
Guild Foundation.
How will I know the amount of Earnings credited to me each year?
You will be sent an annual statement after the close
of the calendar year showing the total earnings
reported to the Plan by all of the Producers by whom
you were employed during the prior calendar year.
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Your Spouse will receive these benefits regardless of
who is listed as your designated beneficiary on your
Beneficiary Designation Form.
If you have a Same-Sex Domestic Partner and you
have named them as your sole primary beneficiary
on the Beneficiary Designation Form, your surviv-
ing Same-Sex Domestic Partner will be entitled to
the benefits payable from the Plan if you die before
retirement. However, your surviving Same-Sex Do-
mestic Partner may elect to receive the 50% Joint and
Survivor Pension only if the partnership has been in
effect for at least 12 months on the date of death.
You may change your beneficiary any time prior to
your retirement by completing a new Beneficiary Des-
ignation Form.
Post-retirement Death
For Post-Retirement Death, a separate beneficiary
designation form must be completed. This form will be
provided to you when you file your Application for Pen-
sion. If you want to change your beneficiary after you
retire, you should contact the Plan Office. Designated
Co-Annuitants and Spouses may not be changed.
If you elect the 50% Joint and Survivor Pension
when you retire, post-retirement death benefits are
automatically paid to the Spouse to whom you were
married when your pension commenced (or to your
Same-Sex Domestic Partner as of the date your pen-
sion commenced), except as provided under the Pop-
Up Option or in accordance with a Qualified Domestic
Relations Order (QDRO).
If you elect the 75% or 100% Joint and Survivor Op-
tion, post-retirement death benefits are automatically
paid to the contingent annuitant you named when
your pension commenced, except as provided under
the Pop-Up Option.
Please call the Plan Office if you have any questions
about designating a beneficiary.
Do Social Security benefits affect the pensions provided under this Plan in any way?
No. The benefits under this Plan are in addition to
benefits paid under Social Security.
Does my pension affect unemployment compensation benefits?
It is possible that your pension benefits from this Plan
may affect your eligibility for or amount of unemploy-
ment compensation benefits. You should check with
your local Employment Development Department
office.
May pension benefits be assigned?
No, with limited exceptions. The Pension Plan must
comply with a lien from the Internal Revenue Service.
In addition, the Plan is required by applicable law to
pay benefits in accordance with a Qualified Domestic
Relations Order (QDRO). In the event you are in the
process of a divorce, you should carefully consult
with your attorney about the effect of the divorce on
your or your spouse’s benefits. Please have your at-
torney contact the Plan Office should he or she have
any questions about the Plan or your benefits.
You may also elect to have your premium for Senior
Performers Health Plan coverage automatically de-
ducted from your monthly pension benefits.
Will federal income tax be withheld from pension payments?
The tax laws require that the Pension Plan withhold
federal income tax from certain monthly benefits un-
less you elect, in writing, not to have the tax withheld.
The amount and form of the benefit generally deter-
mines whether or not automatic withholding applies.
However, if you live outside the United States, differ-
ent withholding rules may apply.
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income tax withholding on your retirement benefits.
However, the Plan Office cannot provide tax advice
and you are encouraged to consult with your tax
advisor before making any withholding or rollover
decisions.
Can I rollover my pension payments into an IRA?
If benefits are paid in a lump sum or in fixed install-
ments over a period of less than 10 years, you may
elect to directly transfer your benefits to an Individual
Retirement Account (IRA) or other qualified retire-
ment plan. Special rules apply to pensioners over age
70-1/2 and to certain death benefits. Please contact
the Plan Office for details.
If benefits are paid in a lump sum or in fixed install-
ments over a period of less than 10 years, you may
elect in writing to directly transfer your benefits into
an Individual Retirement Account (IRA) or another
qualified retirement plan. If your payments are not
directly transferred, the Fund is required to with-
hold 20% of the payment for taxes, even if you
subsequently elect to roll them over to an IRA. If the
payment is being made to your spouse or beneficiary,
different withholding and rollover rules may apply.
Some participants will not owe federal income tax
on their pension benefits because their total taxable
income determines whether they must pay federal
income tax. At the time you retire, you will be given
complete and detailed information about federal
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Checklist: Things For You To Do
If you move
Keep the Plan Office informed of any change in your
mailing address to ensure you receive our communi-
cations. Our address, phone numbers and Web site
are on page 42. You may change your address by
filing a new Performer Information Form.
The Pension Plan and SAG-AFTrA are two
separate entities. You must notify both of these
entities separately of any change of address.
If your marital or same-sex domestic partnership status changes
Inform the Plan Office. See the sections on the 50%
Joint and Survivor Pension and other options affect-
ed by your marital and domestic partnership status.
If you are getting a divorce, your former Spouse may
be entitled to receive a portion of your pension pay-
ments. Under applicable law, the Trustees must com-
ply with any order issued by the state divorce court
that is a Qualified Domestic Relations Order (QDRO).
If you or your attorney have any questions or would
like assistance before the QDRO is finalized, please
contact the Plan Office. The Plan Office does not give
legal advice.
If you are thinking about retirement
Obtain the information you need and file your appli-
cation as soon as possible ahead of your anticipated
retirement date. You will need copies of certain docu-
ments such as your birth certificate and marriage
certificate or Affidavit of Domestic Partnership. The
Plan Office can tell you what you need.
Check your options
There may be special rules in connection with the
various forms of pension payment provided by the
Plan. If in doubt, contact the Plan Office.
Keep your records
The accuracy and completeness of the records of your
work is an important factor in determining eligibility.
You can protect yourself by checking the work records
you receive. Try to keep pay vouchers, payroll check
stubs and other evidence of employment you may
receive until you are sure you have been credited for
that work. You can periodically request the Social
Security Administration to provide you with a detailed
wage statement which shows by year of employment
the name of your employers and your earnings as
noted in their records. This record is very useful for
the Plan Office in verifying your Pension Credits.
Designate a beneficiary
For the protection of the person or persons you want
to receive the Plan’s Death Benefits, be sure that you
have submitted in writing a Beneficiary Designation
Form to the Plan Office and that you keep this form
updated. If your beneficiary should die before you, or
for any other reason you want to change your choice,
you should promptly inform the Plan Office.
Save this booklet
Put it in a safe place. If you lose your copy you may ask
the Plan Office for another. It is also available on the
Plans’ website: www.sagph.org. This Summary Plan
Description is periodically updated by the summary of
material modifications known as the Take 2 newsletter.
Copies of the Summary Plan Description and Take 2
newsletters are also available on the Plan’s website.
Additional questions? Ask the Plan Office or visit the Plan’s Web site.
You should contact the Plan Office about any ques-
tions you have on the Plan and your rights and
benefits under it. You can also check on your Pension
Credit and get an estimate of your monthly pension.
Remember, only information in writing, signed on be-
half of the Board of Trustees may be considered bind-
ing on the Trustees, subject to the Plan document.
You may also obtain information regarding the Pen-
sion Plan as well as download Pension Plan forms on
the Plan’s Web site: www.sagph.org.
36
Information Required By The Employee Retirement Income Security Act Of 1974
5. Names and addresses of the trustees:
Union Trustees Producer Trustees
Daryl Anderson Jay Barnett
Amy Aquino Ted Bird
Timothy Blake Tracy Cahill
Jim Bracchitta Eryn Doherty
John Carter Brown Marla Johnson
Duncan Crabtree-Ireland Robert W. Johnson
Leigh French Sheldon Kasdan
Barry Gordon Shelley Landgraf
Al Hubbs An T. Le
Bob Kaliban Carol Lombardini
Richard Masur Stacy K. Marcus
John T. McGuire Diane P. Mirowski
Joseph Ruskin Paul Muratore
John H. Sucke Alan H. Raphael
Kathryn Swink John E. Rhone
Kim Sykes Robert Todd
Ned Vaughn David Weissman
David P. White Samuel P. Wolfson
All Trustees may be contacted by writing to the
Burbank Plan Office.
6. The Plan’s Requirements Respecting Eligibility For Participation and Benefits are shown on pages 2 to 30 and Articles I, II, III,
IV, V, VI, and VII of the Pension Plan.
7. The Normal Retirement Age under the Plan is the later of age 65, or (1) for participants
who have Current Service Earnings on or after
January 1, 1988, the fifth anniversary of the date
the Participant commenced participation in the
Plan, and (2) for Participants who do not have
Current Service Earnings on or after January 1,
1988, the tenth anniversary of the date the Par-
ticipant commenced participation in the Plan. The
definition is in Article I, Section 18 of the Plan.
Information required by the Act specified in Section
102(b).
1. The name, type of administration, and type of Plan:
Screen Actors Guild – Producers Pension Plan for
Motion Picture Actors
Collectively Bargained, Joint – Trusteed Labor –
Management Trust
Defined Benefit Plan
2. Internal Revenue Service Plan identifica-tion number and Plan Number:
The Employer Identification Number (EIN) issued
to the Board of Trustees is: 95-6031814. The Plan
Number is: 001.
3. Name and address of the persons designated as agents for service of legal process:
Mark Hess, Esq.
Fox Rothschild, LLP
1800 Century Park East, Suite 300
Los Angeles, CA 90067
Robert Bush, Esq.
Bush Gottlieb Singer Lopez Kohanski Adelstein &
Dickinson
500 N. Central Avenue, Suite 800
Glendale, CA 91203
Legal process may also be served on a Plan
Trustee.
4. Name and address of the administrator:
Board of Trustees
Screen Actors Guild – Producers Pension Plan
Business Arts Plaza
Mailing Address:
P.O. Box 7830
Burbank, CA 91510-7830
Street Address:
3601 West Olive Avenue
Burbank, CA 91505
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8. The Provisions of the 50% Joint and Survivor Pension which provides a lifetime
benefit for a surviving Spouse or Same-Sex
Domestic Partner are set forth in Article IV of the
Plan.
9. Description of Circumstances Which May Result In Disqualification, Ineligibility, Denial or Loss of Benefits:
a) If a pensioner returns to employment prohib-
ited by the Plan, he must inform the Board of
Trustees, in writing, within 15 days of his re-
turn. Refer to Article VIII Section 9 of the Plan.
b) A pensioner is not eligible to receive a pen-
sion benefit until the first day of the month
following the date on which he files an ap-
plication for a pension with the Plan. Refer to
Article VIII, Section 1 of the Plan.
c) Pension payments may be suspended or
denied for failure to promptly comply with a
request from the Administrator for information
completely and in good faith, or for the will-
ful making of a false statement material to a
claim. Refer to Article VIII Section 2 of the Plan.
d) If a pensioner receiving a Disability Pension
loses entitlement to his Social Security Dis-
ability Benefit or is no longer Totally Disabled
as defined by the Plan, he must inform the
Board of Trustees, in writing, within 30 days
of the date he receives notice from the Social
Security Administration or no longer meets
the Plan’s definition. Refer to Article III, Sec-
tion 12 of the Plan.
10. The Provisions Governing the Authority of the Trustees to Terminate or Amend the Plan:
The Pension Plan may be amended at any time by
the Trustees, consistent with the provisions of the
Trust Agreement. However, no amendment may
decrease the accrued benefit of any Participant
except as necessary to maintain compliance with
the provisions of or to meet the requirements of
Federal law.
The Trustees have the right to discontinue or
terminate this Pension Plan in whole or in part. In
the event of termination, the rights of all affected
Participants to benefits then accrued, to the ex-
tent funded, shall be 100% vested.
11. Plan Termination Insurance:
Your pension benefits under this multi-employer
plan are insured by the Pension Benefit Guaranty
Corporation (PBGC), a federal insurance agency.
A multi-employer plan is a collectively bargained
pension arrangement involving two or more un-
related employers, usually in a common industry.
Under the multi-employer plan program, the
PBGC provides financial assistance through loans
to plans that are insolvent. A multi-employer plan
is considered insolvent if the plan is unable to
pay benefits (at least equal to the PBGC’s guaran-
teed benefit limit) when due.
The maximum benefit that the PBGC guarantees
is set by law. Under the multi-employer program,
the PBGC guarantee equals a participant’s years
of service multiplied by (1) 100% of the first $11 of
the monthly benefit accrual rate and (2) 75% of the
next $33. The PBGC’s maximum guarantee limit
is $35.75 per month times a participant’s years of
service. For example, the maximum annual guar-
antee for a retiree with 30 years of service would
be $12,870.
The PBGC guarantee generally covers: (1) normal
and early retirement benefits; (2) disability ben-
efits if you become disabled under the rules of
the plan before the Plan becomes insolvent; and
(3) certain benefits for your survivors.
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The PBGC guarantee generally does not cover:
(1) benefits greater than the maximum guaran-
teed amount set by law; (2) benefit increases
and new benefits based on Plan provisions that
have been in place for fewer than 5 years at the
earlier of: (i) the date the Plan terminates or (ii)
the time the Plan becomes insolvent; (3) benefits
that are not vested because you have not worked
long enough; (4) benefits for which you have not
met all of the requirements at the time the Plan
becomes insolvent; and (5) non-pension benefits,
such as health insurance, life insurance, certain
death benefits, vacation pay and severance pay.
For more information about the PBGC and the
benefits it guarantees, ask your Plan administra-
tor or contact the PBGC’s Technical Assistance
Division, 1200 K Street, N.W., Suite 930, Wash-
ington, D.C. 20005-4026 or call 202-326-4000 (not
a toll-free number). TTY/TDD users may call the
federal relay service toll-free at 1-800-877-8339
and ask to be connected to 202-326-4000. Addi-
tional information about the PBGC’s pension in-
surance program is available through the PBGC’s
website on the Internet at hppt://www.pbgc.gov.
12. Source of financing of the Plan and identity of any organization through which benefits are provided:
All financing of the Plan is made by contribu-
tions to the Trust which are made by Producers
in accordance with their collective bargaining
agreements. The Plan Office will provide you,
upon written request, information as to whether
a particular Producer is contributing to this Plan
on behalf of Actors performing services of the
type covered under the collective bargaining
agreement. Benefits are provided from the Fund’s
assets which are accumulated under the provi-
sions of the collective bargaining agreements
and the Trust Agreement and held in a Trust Fund
for the purpose of providing benefits to covered
Actors and defraying reasonable administrative
expenses. Northern Trust Company has been des-
ignated as the Corporate Co-Trustee to the Plan.
The investment managers as of July 1, 2013 are:
Brandywine Asset Management, LLC
Bridgewater Associates, Inc.
Cambiar Investors, Inc.
Delaware Investments
Dimensional Fund Advisors, Inc.
First Pacific Advisors
GMO
International Value Advisors, LLC (IVA)
JP Morgan Asset Management
Lazard Asset Management
Metropolitan West Asset Management
Newton Capital Management, LLC
Oaktree Capital Management
PIMCO
Prudential Financial
Walter Scott & Partners Limited
Wedge Capital Management, LLP
Western Asset
The list of investment managers may change
from time to time.
13. Recordkeeping Period:
Calendar Year.
14. Remedies available under the Plan for the redress of claims which are denied in whole or part, including provisions required by Section 503 of the Employee Retirement Income Security Act of 1974:
If an individual wishes to appeal a denial of bene-
fits in whole or in part, he should file a request for
a review within 60 days (180 days for Disability
Pensions) after receiving the denial. The appeal
will be considered by the Board of Trustees or a
committee appointed by the Board. Its decision
will be communicated to the individual within 60
days after receipt of all pertinent evidence. Refer
to Article VIII, Section 4 of the Plan.
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15. Statement of ERISA Rights:
As a Participant in the Screen Actors Guild– Pro-
ducers Pension Plan, you are entitled to certain
rights and protections under the Employee
Retirement Income Security Act of 1974 (ERISA).
ERISA provides that all Plan Participants shall be
entitled to:
receive Information about Your Plan and
Benefits
Examine, without charge, at the Plan Office, all
documents governing the Plan, including collec-
tive bargaining agreements, and a copy of the
latest annual report (Form 5500 series) filed by
the Plan with the U.S. Department of Labor and
available at the Public Disclosure Room of the
Pension and Welfare Benefit Administration.
Obtain, upon written request to the Chief Ex-
ecutive Officer, copies of documents governing
the operation of the Plan, including collective
bargaining agreements and copies of the latest
annual report (Form 5500 series) and updated
summary plan description. The Plan may make a
reasonable charge for copies.
Receive the Annual Funding Notice which pro-
vides information regarding the financial health
of the Plan, including descriptions of the Trust-
ees’ funding and investment policies and the al-
location of the Plan’s investments of the close of
the prior Calendar. Effective January 1, 2009, this
Annual Funding Notice replaces the requirement
of providing you with a summary annual report.
Obtain a statement telling you whether you have
a right to receive a pension at normal retirement
age and, if so, what your benefit would be at
normal retirement age if you stop working now. If
you do not have a right to a pension the state-
ment will tell you how many more years you have
to work to get a right to a pension. This statement
must be requested in writing and is not required
to be given more than once every twelve (12)
months. The plan must provide the statement
free of charge. The plan will provide this informa-
tion to the extent possible, based on available
records.
Prudent Actions by Plan Fiduciaries
In addition to creating rights for plan participants,
ERISA imposes duties upon the people who are
responsible for the operation of the employee
benefit plan. The people who operate your plan,
called “fiduciaries” of the plan, have a duty to
do so prudently and in the interest of you and
other plan participants and beneficiaries. No one,
including your employer, your union, or any other
person may fire you or otherwise discriminate
against you in any way to prevent you from ob-
taining a pension benefit or exercising your rights
under ERISA.
Enforce Your rights
If your claim for a pension benefit is denied in
whole or in part you have the right to know why
this was done, to obtain copies of documents
relating to the decision without charge, and to ap-
peal any denial, all within certain time schedules.
Under ERISA there are steps you can take to
enforce the above rights. For instance, if you
request a copy of plan documents or the latest
annual report from the plan and do not receive
them within 30 days, you may file suit in a Federal
court. In such a case, the court may require the
plan administrator to provide the materials and
pay up to $110 a day until you receive the materi-
als, unless the materials were not sent because of
reasons beyond the control of the administrator.
If you have a claim for benefits which is denied or
ignored, in whole or in part, you may file suit in a
state or Federal court. However, no legal action
may be commenced or maintained against the
Plan more than ninety (90) days after the Plan
Trustees’ written decision on appeal has been
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provided. The Plan Trustees’ written decision on
appeal will be deemed to have been provided
on the fifth business day following the postmark
date, if mailed, or the date of delivery if personally
delivered or delivered by facsimile. A copy of this
Statement of ERISA Rights, which shall constitute
written notice of this ninety (90) day limitations
period, shall be provided to the applicant along
with the written notification of the Plan Trustees’
decision on appeal. In addition, if you disagree
with the Plan’s decision or lack thereof concerning
the qualified status of a domestic relations order,
you may file suit in Federal court. If it should
happen that the Plan fiduciaries misuse the Plan’s
money, or if you are discriminated against for
asserting your rights, you may seek assistance
from the U.S. Department of Labor, or you may
file suit in a Federal court. The court will decide
who should pay court costs and legal fees. If you
are successful the court may order the person you
have sued to pay these costs and fees. If you lose,
the court may order you to pay these costs and
fees, for example, if it finds your claim frivolous.
Assistance with Your Questions
If you have any questions about your Plan you
should contact the Chief Executive Officer. If
you have any questions about this statement or
about your rights under ERISA, or if you need
assistance in obtaining documents from the Chief
Executive Officer, you should contact the nearest
office of the Pension and Welfare Benefits Admin-
istration, U.S. Department of Labor, listed in your
telephone directory or the Division of Technical
Assistance and Inquiries, Pension and Welfare
Benefits Administration, U. S. Department of La-
bor, 200 Constitution Avenue, N.W., Washington,
DC 20210. You may also obtain certain publica-
tions about your rights and responsibilities under
ERISA by calling the publications hotline of the
Pension and Welfare Benefits Administration.
Info
rma
tion
Re
qu
ired
By
Th
e E
mp
loy
ee
Re
tirem
en
t Inc
om
e S
ec
urity
Ac
t Of 1
97
4
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
Pe
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Pla
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41
Be
ne
fit Su
mm
ary
Benefit Summary
Types of Pension Age Requirement Service Requirement
Regular Pension 65 10 Pension Credits
Early Retirement Pension 55 10 Pension Credits
Disability Pension Younger than 65 10 Pension Credits, at least one Pension Credit in the six-year period immediately preceding disability
Occupational Disability Younger than 65 5 Pension Credits, at least one Pension Credit in the six-year period immediately preceding disability
Terminal Illness Benefit Younger than 65 10 Pension Credits
Normal Retirement Age Vested Pension 65 5th or 10th anniversary of participation without a
Permanent Break in Service
Limited Five Year Vested Pension 65 5 Pension Credits without a Permanent Break in Service
Service Pension 5510 Pension Credits, at least 5 Pension Credits as a Plan Office or Guild Office Participant. Age plus service must be at least 75.
Forms of Pension Payment Description
Five-Year Certain Payable to the pensioner for life with the guarantee that if the pensioner dies before receiving 60 monthly payments, the remainder are paid to the beneficiary.
Ten-Year Certain Payable to the pensioner for life with the guarantee that if the pensioner dies before receiving 120 monthly payments, the remainder are paid to the beneficiary.
50% Joint and Survivor Pension
Payable to the pensioner for life and, upon the pensioner’s death, 50% of the monthly amount is payable to the surviving Spouse or Same-Sex Domestic Partner for life.
75% and 100 % Joint and Survivor Options
Payable to the pensioner for life and, upon the pensioner’s death, 75% or 100% (whichever you elect at retirement) of the monthly amount is payable to the contingent annuitant for life.
Pop-Up Option
Available with the 50% Joint and Survivor Pension or the 75% or 100% Joint and Survivor Options. If the Spouse, Same-Sex Domestic Partner or contingent annuitant dies before the pensioner, the pensioner’s monthly benefit reverts to the Five-Year-Certain form.
Partial Lump Sum OptionAn initial lump sum payment equal to 12 monthly pension payments is made. Subsequent monthly pension payments are paid in any of the above forms, as elected by the pensioner.
Additional eligibility requirements and information on the amount of monthly pension can be found in the preceding material. Most forms of payment are subject to reduction based on the age of the pensioner and, in some cases, the age of the pensioner’s Spouse, Same-Sex Domestic Partner or contingent annuitant. If you have any questions or would like estimates of your pension amount, please contact the Plan Office.
42
The preceding material was prepared to explain as
clearly as possible your rights and benefits and other
important features of your Pension Plan. For purposes
of clarity, some of the precise detail of the Plan has
been summarized. Every effort has been made to as-
sure the accuracy of the summary. However, we must
emphasize that nothing in this explanation is intended
to change in any way the actual written provisions of
the Plan itself.
In the event a dispute arises, your rights will be deter-
mined in accordance with the text of the Plan and by
the procedures prescribed in the Plan. The full text of
the Plan is in the following section of this booklet.
The legal rules that govern the administration and
your rights under the Plan are contained in the Plan’s
Trust Agreement and Plan Document, in the event
of any conflict between the Trust Agreement and
Plan Document and this Summary Plan Description
booklet (or any other written or oral communication),
the Trust Agreement and/or Plan Document takes
precedence.
Only the Board of Trustees is authorized to interpret
the Plan. Neither SAG-AFTRA nor any Producer nor
any of their representatives are authorized to interpret
the Plan or to act as an agent of the Board of Trustees.
If you have any questions about the Pension Plan, con-
tact the Pension Plan Office. The staff has up-to-date
information on the operation of the Plan and on your
rights and responsibilities under it. The staff is avail-
able to help you with any question. Information from
other sources is not official and may not be correct.
Official communications of the Pension Plan must
be in writing, signed on behalf of the full Board of
Trustees.
Further information and application forms can
be obtained from either one of the following Plan
Offices:
Los Angeles
Business Arts Plaza
Street Address: 3601 West Olive Avenue,
Burbank, CA 91505
Mailing Address: P.O. Box 7830,
Burbank, CA 91510-7830
Phone: (818) 954-9400 or (800) 777-4013
Fax: (818) 953-9880
Website: www.sagph.org
Email: [email protected]
New York
275 Madison Avenue, #1819,
New York, NY 10016
Phone: (212) 599-6010
Fax: (212) 599-2375
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AR
TIC
LE
I. De
finitio
ns
RESTATEMEnT OF ThE PEnSiOn PLAn
for the
SCREEn ACTORS GUiLD-PRODUCERS PEnSiOn FUnD
FOR MOTiOn PiCTURE ACTORSIncluding Amendment Nos. 1 through 71
This restatement sets forth the Pension Plan, as amended, for the above named Pension Fund as of January 1, 1976.
ARTICLE I. Definitions
Unless the context or subject matter otherwise re-
quires, the following definitions shall govern:
Section 1. The term “Trust Agreement” means the
Screen Actors Guild-Producers Pension Plan Trust
Agreement entered into as of February 1, 1960 and
any modification, amendment, extension or renewal
thereof.
Section 2. The term “Pension Fund” shall mean the
Screen Actors Guild-Producers Pension Fund for Mo-
tion Picture Actors, a trust fund created by the Trust
Agreement, including the monies and other things
of value which comprise the corpus, and all income
therefrom and increments thereto.
Section 3. The term “Collective Bargaining Agree-
ment” as used herein shall mean the collective
bargaining agreement or agreements in force and
effective from time to time between SAG and Produc-
ers with respect to the employment and services of
Actors in the production of motion pictures and which
provide for contributions by such Producers into the
Pension Fund. For purposes of the Plan, the term “Col-
lective Bargaining Agreement” shall not include col-
lective bargaining agreements between SAG and the
unions representing its employees.
Section 4. The term “SAG” shall mean Screen Ac-
tors Guild, Inc., a non-profit corporation.
Section 5. The term “Producers” or “Employer”
shall mean:
(a) Those member companies of Association of Mo-
tion Picture Producers, Inc. (now succeeded by the
Alliance of Motion Picture and Television Produc-
ers, Inc.) who are original signatories to the Trust
Agreement, and
(b) Companies that have authorized the A.N.A. –
A.A.A.A. Joint Policy Committee on Broadcast
Talent Relations to represent them in collective
bargaining with the Screen Actors Guild, and
(c) Any other motion picture producer who becomes
a signatory to the Producer-SAG Codified Basic
Agreement or to the Producer-SAG Television
Agreement or to the SAG Commercials Contract,
and
44
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(d) Any motion picture producer or other employer
of actors engaged in the production of motion
pictures in the United States, its territories or
possessions, (hereinafter referred to as a “U.S.
Producer”) who is or hereafter becomes a party
to a SAG collective bargaining agreement that
provides for payments to be made by such U.S.
Producer into the Fund created hereby and any
producer or other employer of actors engaged
in the production of motion pictures outside of
the United States (hereinafter referred to as a
“Foreign Producer”) whose agent is or hereafter
becomes a party to a SAG collective bargain-
ing agreement that provides for payments to be
made by such Foreign Producer into the Fund cre-
ated hereby, and
(e) Any employer who is permitted to be regarded
as an employer hereunder pursuant to Article IV,
Section 1, subsection u of the Trust Agreement.
(f) With respect to Plan Office Participants, the
Screen Actors Guild-Producers Pension Plan for
Motion Picture Actors.
(g) For purposes of identifying highly compensated
employees and applying the rules of participation,
vesting and statutory limits on benefits under the
fund but not for determining covered employ-
ment, the term “Producer” includes all corpora-
tions, trades or businesses under common control
with the Producer within the meaning of Internal
Revenue Code §414(b) and (c), all members of an
affiliated service group with the Producer within
the meaning of Internal Revenue Code §414(m)
and all other businesses aggregated with the Pro-
ducer under Internal Revenue Code §414(o).
(h) With respect to Guild Office Participants, the
Screen Actors Guild.
(i) With respect to IACF Participants, the Screen Ac-
tors Guild – Producers Industry Advancement and
Cooperative Fund.
(j) With respect to Foundation Participants, the
Screen Actors Guild Foundation.
Section 6. The term “Actors” means the persons
employed by Producers to render services as Actors
in the motion picture industry who are covered by and
whose services are subject to a Collective Bargaining
Agreement with SAG, and with respect to whose ser-
vices contributions are required thereunder to be made
into the Pension Fund. Because no substantial separate
group of Extras and Actors exists in New York and cer-
tain other areas of the United States, and in those areas
the same persons generally work interchangeably in
both capacities, the term “Actors” shall also include, for
the limited purposes of the Pension Plan, the persons
employed by Producers to render services as Extras in
the motion picture industry in the New York area and
other areas who are covered by and whose services
are subject to a Collective Bargaining Agreement with
SAG and with respect to whose services contributions
are required thereunder to be made into the Pension
Fund. Effective February 7, 1991, the term “Actors” shall
also include persons who, prior to that date, were both
employed by Producers to render services as extras
in television commercials and whose services were
subject to a collective bargaining agreement with the
Screen Extras Guild. Effective July 1, 1992, the term
“Actors” shall also include persons who, prior to that
date, were both employed by Producers to render
services as extras in theatrical or television Motion Pic-
tures and whose services were subject to a collective
bargaining agreement with the Screen Extras Guild.
Section 7. The term “Pension Plan” or “Plan” shall
mean this Pension Plan and any modification, amend-
ment, extension or renewal thereof. This Pension Plan
shall be known as the “Screen Actors Guild-Producers
Pension Plan for Motion Picture Actors.”
Section 8. The term “Motion Pictures” shall be
deemed to include but is not limited to theatrical mo-
tion pictures, television motion pictures, television
motion picture commercials and commercial and in-
dustrial motion pictures.
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Section 9. The terms “Plan Trustees” or “Trustees”
shall mean those persons who as of any time are prop-
erly acting as such whether originally executing the
Trust Agreement or appointed thereafter pursuant to
the terms thereof.
Section 10. The term “Contingent Annuitant”
means the person designated by a Participant under
the Joint and Survivor Option set forth in Section 1 of
Article VII, provided, however, that a Contingent Annui-
tant shall not be a person who is more than 10 years
younger than the participant for the 100% option and
not more than 19 years younger for the 75% option.
Section 11. The term “Pension Credit” means the
years of service which are accumulated and maintained
for Actors, Plan Office Participants and Guild Office Par-
ticipants in accordance with Article VI of this Plan.
Section 12. The term “Prior Service Credit” means
the years of employment prior to January 1, 1961, to
the extent credited in accordance with Article VI of this
Plan.
Section 13. The term “Current Service Credit”
means the years of employment after January 1, 1961,
to the extent credited in accordance with Article VI of
this Plan.
Section 14. The term “Pensioner” means a person
who has retired and who is receiving benefits under
this Plan, or to whom a pension would be payable but
for time for administrative processing.
Section 15. The term “Beneficiary” means a person
(other than a Pensioner) who is (a) legally entitled to
receive benefits under this Plan because of his or her
designation for such benefits, or (b) who is legally en-
titled to and receiving or is entitled to receive benefits
by operation of law.
Section 16. “Calendar Year” means the period from
January 1 to the next December 31. For the purposes
of ERISA and ERISA regulations, the Calendar Year
shall serve as the benefit accrual computation period,
the vesting computation period and, after the initial
period of employment or reemployment after termina-
tion of participation, the computation period for eligi-
bility to participate in the Plan.
Section 17. The term “ERISA” means the Employee
Retirement Income Security Act
of 1974.
Section 18. The term “Normal Retirement Age”
means the later of:
(a) the date on which the Actor or employee of the
Plan attains age 65, or
(b) (1) for Actors or employees of the Plan who have
Current Service Earnings on or after January
1, 1988, the fifth anniversary of the date on
which the Actor or employee of the Plan com-
menced participation in the Plan, and
(2) for Actors or employees of the Plan who do
not have any Current Service Earnings on or
after January 1, 1988, the tenth anniversary
of the date on which the Actor or employee
of the Plan commenced participation in the
Plan.
In the case of an Actor or employee of the Plan who is
not vested at the time he incurs a Permanent Break in
Service as described in Article I, Section 28, the date
upon which the Actor or employee of the Plan com-
menced participation in the Plan shall be determined
without regard to any employment which preceded
such Permanent Break in Service.
Section 19. The term “Participant” includes any
Pensioner receiving benefits at the end of the year, a
Beneficiary receiving monthly benefits at the end of
the year, any person who has completed the require-
ments for a vested benefit as of the end of the year,
and any person who is an Active Participant at the end
of the year.
46
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Section 20. The term “Earnings Credit” means the
credit for earnings received by a Participant, to the ex-
tent credited in accordance with Article VI.
Section 21. The term “Prior Service Earnings”
means the credit for earnings received by a Participant
prior to January 1, 1961, to the extent credited in ac-
cordance with Article VI.
Section 22. The term “Current Service Earnings”
means the credit for earnings received by a Participant
on or after January 1, 1961, to the extent credited in
accordance with Article VI.
Section 23. The term “Contiguous Non-Covered
Service” means service rendered on or after Janu-
ary 1, 1976, other than as an Actor which precedes or
follows service as an Actor with no quit, discharge or
retirement occurring between such service and service
as an Actor.
Section 24. The term “Active Participant” means
an Actor, Plan Office Participant, or Guild Office Par-
ticipant who has met the requirements of Section 2 of
Article II of this Plan.
Section 25. The term “Plan Office Participant”
means an employee of this Plan who has met the re-
quirements of Section 2 of Article II of this Plan and
who is not covered by any Collective Bargaining Agree-
ment and has Earnings Credit on or after July 1, 1988.
The term “Plan Office Participant” also includes an
“IACF Participant”. The term “IACF Participant” means
an employee of the Screen Actors Guild – Producers
Industry Advancement and Cooperative Fund who has
met the requirements of Section 2 of Article II of this
Plan and who is not covered by any Collective Bargain-
ing Agreement and has Earnings Credit on or after
January 1, 2007.
Section 26. Annuity Starting Date.
(a) Subject to Subsection (b) below, a Participant’s
Annuity Starting Date is the first day of the first
calendar month starting after the Participant has
fulfilled all of the conditions for entitlement to
benefits and after the later of:
(1) the Participant’s submission of a completed
application for benefits, or
(2) 30 days after the Plan advises the Participant of
the available benefit payment options, unless
(A) the benefit is being paid as a 50% Joint
and Survivor Pension at or after the Par-
ticipant’s Normal Retirement Age,
(B) the benefit is being paid out automatically
as a lump sum under Article VIII, Section
7, or
(C) the Participant and spouse (if any) con-
sent in writing to the commencement of
payments before the end of that 30-day
period.
(b) The Annuity Starting Date will not be later than the
Participant’s Required Beginning Date as defined
in Article VIII, Section 5(b).
(c) The Annuity Starting Date for a Beneficiary or
Alternate Payee will be determined under Subsec-
tions (a) and (b), except that references to the 50%
Joint and Survivor Pension and spousal consent
do not apply.
(d) A Participant who retires before his or her Normal
Retirement Age and has his or her pension sus-
pended in accordance with Section 9(a) of Article
VIII will have a separate Annuity Starting Date
determined under subsection (a) with respect to
benefits payable under Section 10(c) of Article VIII,
except that such Annuity Starting Date shall not
be established prior to the Participant’s Normal
Retirement Age. This second Annuity Starting Date
shall apply only with respect to additional Earn-
ings Credit earned after the Participant’s initial An-
nuity Starting Date.
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Section 27. Highly Compensated Employee. The
term “Highly Compensated Employee” includes highly
compensated active employees and highly compen-
sated former employees of a Producer. Whether an
individual is a highly compensated employee is deter-
mined separately with respect to each Producer, based
solely on that individual’s compensation from or status
with respect to that Producer. A highly compensated
active employee means any employee who (a) was a
5-percent owner (as defined in Internal Revenue Code
§416(i)(1)) of a Producer at any time during the current
or the preceding Plan Year, or (b) for the preceding
Plan year, had compensation from the Producer in
excess of $80,000 (as adjusted under Internal Revenue
Code §415(d)).
For this purpose, an employee is in the top-paid group
of employees for any year if such employee is in the
group consisting of the top 20 percent of the employ-
ees ranked on the basis of compensation paid during
such year.
A former employee shall treated as a highly compensat-
ed employee if: (a) such employee was a Highly Com-
pensated Employee when such employee separated
from service or (b) such employee was a Highly Com-
pensated Employee at any time after attaining age 55.
The determination of who is a Highly Compensated
Employee, including determinations of the number
and identity of employees in the top-paid group, will
be made in accordance with Internal Revenue Code
§414 (q) and regulations thereunder.
For the purposes of this subparagraph, the term “com-
pensation” means compensation within the meaning
of Internal Revenue Code §415(c)(3), without regard to
Internal Revenue Code §125, §402(e)(3) and §402(h)(1)
(B) and, in the case of employer contributions made
pursuant to a salary reduction agreement, without re-
gard to Internal Revenue Code §403(b).
For Plan Years beginning after December 31, 1997, for
the purposes of this subsection, the term “compensa-
tion” means compensation within the meaning of In-
ternal Revenue Code §415(c)(3).
Section 28. One Year Break in Service/
Permanent Break in Service. For purposes of
this Section 28, the term “minimum annual Earnings
Credit” means the minimum amount of Earnings
Credit required under Article VI, Section 2(c) to earn a
year of Current Service Credit.
(a) The term “One-Year Break in Service” means:
(1) For Plan Office Participants, each Calendar
Year:
(i) prior to January 1, 1999, during which the
employee’s earnings were less than the
minimum annual Earnings Credit for such
Calendar Year;
(ii) after December 31, 1998 but prior to Janu-
ary 1, 2004, during which the employee’s
earnings are less than one-half the mini-
mum annual Earnings Credit for such Cal-
endar Year; and
(iii) after December 31, 2003, in accordance
with paragraph (2) below.
(2) For Plan Office Participants and Guild Office
Participants, each Calendar Year after De-
cember 31, 2003 during which the employee
(i) has not completed an aggregate of more
than 500 Hours of Service, including, for this
purpose only, such hours as may be credited
during a leave of absence approved in writing
by the Plan Trustees pursuant to nondiscrimi-
natory rules applicable to similarly situated
employees, or (ii) has earnings that are less
than one-half the minimum annual Earnings
Credit for such Calendar Year;
(3) For Actors, each Calendar Year prior to Janu-
ary 1, 1992 during which the Actor’s earnings
were less than the minimum annual Earnings
Credit for such Calendar Year, and each Calen-
dar Year after December 31, 1991 during which
the Actor’s earnings are less than one-half the
minimum annual Earnings Credit for such Cal-
endar Year. For purposes of Article I, Section
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18, in determining whether a Permanent Break
in Service occurred, a “One-Year Break in
Service” shall mean each Calendar Year prior
to January 1, 1999 during which the Actor’s
earnings were less than the minimum annual
Earnings Credit for such Calendar Year, and
each Calendar Year after December 31, 1998
during which the Actor’s earnings are less
than one-half the minimum annual Earnings
Credit for such Calendar Year.
The above notwithstanding, beginning January 1,
1987, any Calendar Year during which an Actor or
employee is on parental leave shall not be a One-
Year Break in Service. An Actor or employee shall
be deemed to be on parental leave if his failure to
earn the minimum amount required to prevent a
One-Year Break in Service is due to the pregnancy
of the Actor or employee, the birth of a child of
the Actor or employee, the placement of a child
in connection with the adoption of a child by the
Actor or employee, or caring for the child of the
Actor or employee during the period immediately
following the birth or placement for adoption,
including time involved for a trial period prior to
adoption. If an Actor or employee is already cred-
ited with sufficient earnings to prevent a One-Year
Break in Service during the Calendar Year in which
he is on parental leave, such parental leave shall
be applied to the year immediately following the
Calendar Year.
Beginning February 5, 1994, any Calendar Year
during which an Actor or employee is on an au-
thorized leave of absence in accordance with the
Family and Medical Leave Act shall not be a One-
Year Break in Service.
(b) A Participant will incur a “Permanent Break in
Service” if the number of consecutive One-Year
Breaks in Service is at least five (5) and equals or
exceeds the number of years of Vesting Service
previously earned and not previously disregarded
under the provisions of this Section 28(b). A Cal-
endar Year in which the Participant does not have a
One-Year Break in Service but nevertheless fails to
earn a Pension Credit will not interrupt the count
of consecutive One-Year Breaks in Service.
A Participant who is not vested and who incurs a
Permanent Break in Service shall lose his previ-
ously earned Vesting Service and Pension Credit
for purposes of Article III, Section 6(a)(3), Article V,
Section 1(a) and Article V, Section 1(b).
Section 29. The term “Guild Office Participant”
means an employee as defined by the Screen Ac-
tors Guild Employees Retirement Plan as in effect
on December 31, 2003 (“Guild Plan”) who has met
the requirements of Section 2 of Article II of this Plan
and who is not covered by any Collective Bargaining
Agreement and has Earnings Credit on or after Janu-
ary 1, 2004 or was a Participant of the Screen Actors
Guild Employees Retirement Plan on December 31,
2003. The provisions of the Plan shall apply to Guild
Office Participants who meet the requirements to be
a Participant as provided under Article II, Section 2,
paragraph (b). In the event the Guild Office Participant
does not meet such requirements, the provisions of
the Screen Actors Guild Employees Retirement Plan
as in effect on December 31, 2003, shall continue to
be applicable, unless otherwise specified in Appendix
A. The term “Guild Office Participant” also includes a
“Foundation Participant”. The term “Foundation Partici-
pant” means an employee of the Screen Actors Guild
Foundation who has met the requirements of Section
2 of Article II of this Plan and who is not covered by
any Collective Bargaining Agreement and has Earnings
Credit on or after April 1, 2007.
Section 30. The term “Hour of service” means the
following:
(a) Each hour for which an employee is directly or
indirectly paid, or entitled to payment, by the Em-
ployer for the performance of duties, plus each
hour for which credit is not otherwise given for
the performance of duties with respect to which
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back pay is awarded or agreed to by the Employer,
computed without regard to any mitigation of
damages and credited to the Calendar Year in
which the employee performed the duties or with
respect to which the back pay award or agreement
pertains.
(b) Each hour, up to a maximum of 501 hours for any
single continuous period, for which an employee
is directly or indirectly paid, or entitled to pay-
ment, by the Employer for reasons other than the
performance of duties (irrespective of whether
the employment relationship has terminated) due
to vacation, holiday, illness, incapacity (including
disability), layoff, jury duty, military duty or leave
of absence, excluding any such hours for which
payment is made or due under a plan maintained
solely for the purpose of complying with the ap-
plicable workers’ compensation, unemployment
compensation or disability insurance laws or
which reimburses an employee solely for medi-
cal or medically related expenses that he/she has
incurred. Any hours for which back pay is awarded
for a period during which no duties are performed
shall also be subject to the 501-hour maximum
credit for any single continuous period.
(c) Each hour, up to a maximum of 501 hours for any
single continuous period, of absence incurred by
an employee for the purpose of: (i) pregnancy, (ii)
birth of a child, (iii) adoption of a child, or (iv) car-
ing for a child immediately following birth or an
adoption
Such employee shall be treated as having com-
pleted either the number of hours that would have
been completed except for such absence or 7
Hours of Service for each normal workday where
normal work hours are not known. Any hours re-
quired to be credited pursuant to this subsection
(c) must be credited only (i) in the Calendar Year in
which the absence begins, if such crediting is nec-
essary to prevent a Break in Service during such
Year or (ii) in the following Calendar Year.
(d) Each hour that an individual receiving a differen-
tial wage payment (as defined by Code Section
3401(h)(2)) is treated as an employee of the em-
ployer making the payment.
(e) Each other hour for which an employee must be
credited, pursuant to any applicable Federal Law.
In determining the number of Hours of Service to be
credited to an employee for reasons other than the
performance of duties, as well as in determining the
Plan Year to which all Hours of Service should be cred-
ited, the rules of Section 2530.200b-2(b) and (c) of the
Department of Labor regulations shall be followed to
the extent such rules are not incorporated in this Plan
document.
Section 31. The terms “marriage,” “married,”
“legally married,” “spouse,” or “legal spouse,” as used
herein, shall have the same meanings as those set
forth under applicable state law. For Annuity Starting
Dates on and after July 1, 2011, these terms shall
also apply to qualified Same-Sex Domestic Partners
as defined in Section 33 below unless otherwise
specified.
Section 32. The term “Same-Sex Domestic Partner”
means an individual who is the same sex as the Par-
ticipant and who has submitted to the Plan: (a) an Af-
fidavit of Domestic Partnership on a form provided by
the Plan, (b) any required supporting documentation
and (c) who meets the required criteria set out in the
Affidavit. No person shall be considered a Same-Sex
Domestic Partner if that person resides in a state that
permits same-sex marriage. In addition, no person
shall be considered a Same-Sex-Domestic Partner
prior to the time a complete Affidavit has been submit-
ted to the Plan. The Participant’s Same-Sex Domestic
Partnership shall terminate effective immediately if
the Same-Sex Domestic Partner no longer meets the
required criteria as set out in the Affidavit.
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ARTICLE II. Participation
Section 1. Eligibility. Actors and employees of this
Plan shall become eligible to participate in the Plan
when and as provided in this Article.
Section 2. Participation. The initial eligibility com-
putation period for purposes of this Article II only, is
the twelve (12) consecutive month period following an
employee’s initial date of employment covered by the
Plan. The eligibility computation period following the
initial eligibility computation period shall be the Calen-
dar Year which includes the first anniversary of an em-
ployee’s employment commencement date. For pur-
poses of this Article II only, an employee who works in
employment covered by the Plan shall become a Par-
ticipant in the Plan on the earliest January 1 or July 1
next following a twelve (12) consecutive month period
during which he earned one year of Vesting Service.
A Guild Office Participant who was a Participant in the
Screen Actors Guild Employees Retirement Plan as of
December 31, 2003 shall become a Participant in the
Plan on January 1, 2004.
Section 3. Termination of Participation. For
purposes of this Article II only, a Participant who fails
to earn one Current Service Credit in a Calendar Year
prior to January 1, 1999, or who incurs a One-Year
Break in Service after December 31, 1998 shall cease to
be a Participant on the last day of such Calendar Year,
unless such individual has become a Pensioner or has
met the requirements for a vested benefit.
Section 4. Reinstatement of Participation. For
purposes of this Article II only, an individual who has
lost his status as a Participant in accordance with Sec-
tion 3 of this Article, shall again become a Participant
by meeting the requirements of Section 2 of this Ar-
ticle on the basis of service after the Calendar Year dur-
ing which his participation terminated.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Section 1. General. This Article sets forth the eli-
gibility conditions and amounts for the pensions pro-
vided for by this Plan. The accumulation and retention
of Pension Credits for eligibility are subject to the pro-
visions of Article VI. The benefit amounts are subject to
reduction under Article VIII and on account of the 50%
Joint and Survivor Pension (Article IV). Entitlement of
an eligible Participant to receive Pension Benefits is
subject to his retirement and application for benefits,
as provided in Article VIII.
Eligibility depends on Pension Credits, which are de-
fined in Article VI and take into account creditable em-
ployment both before and after January 1, 1961, except
that eligibility for Vested Pensions depends on years of
Vesting Service, which are also defined in Article VI.
Section 2. Eligibility for Regular Pension. A Par-
ticipant may retire on a Regular Pension if he meets
the following requirements:
(a) He has attained age 65; and
(b) He has at least 10 years of Pension Credit.
Section 3. Amount of Regular Pension.
(a) The monthly amount of a Regular Pension effec-
tive before January 1, 1996 shall be the greater
of $220.00 or the sum of the annual Prior Service
Benefit plus the annual Current Service Benefit (as
determined under paragraphs (1) and (2) of this
subsection (a)), divided by 12. If the amount deter-
mined is not already a multiple of $.50, it shall be
rounded to the next higher multiple of $.50.
(1) Prior Service Benefit. The amount of annual
Prior Service Benefit is determined as follows:
(i) The first step is to determine the average
annual Earnings Credit to which the Par-
ticipant is entitled for the most recent five
years of Prior Service Credit.
(ii) The second step is to calculate the annual
benefit based on the amount in (i) above
in accordance with the following schedule:
ARTICLE III. Pension Eligibility And Amounts
Earnings Creditfor Prior Service
The Benefit for Each Year ofPrior Service Credit is:
$ 0 to $ 2,500 7.48% of Earnings Credit
$ 2,501 to $ 5,000$ 187.00 plus
6.91% of excess over $ 2,500
$ 5,001 to $ 7,500$ 359.75 plus
4.62% of excess over $ 5,000
$ 7,501 to $ 25,000$ 475.25 plus
4.24% of excess over $ 7,500
$ 25,001 to $ 30,000$ 1,217.25 plus
3.73% of excess over $ 25,000
$ 30,001 to $ 50,000$ 1,403.75 plus
1.29% of excess over $ 30,000
over $ 50,000$ 1,661.75 plus
1.18% of excess over $ 50,000
(iii) The final step is to multiply the annual
benefit obtained in (ii) above by the total
years of Prior Service Credit to which
the Participant is entitled. The amount so
obtained is the amount of annual Prior
Service Benefit.
(iv) If the Participant has less than five years
of Prior Service Credit, the schedule
shown above is applied to the amount of
Earnings Credit to which the Participant is
entitled to each year of Prior Service Cred-
it. The sum of the amounts so determined
is the amount of the annual Prior Service
Benefit for those Participants who have
accumulated less than five years of Prior
Service Credit.
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(2) Current Service Benefit. Subject to the limits
described in Article VIII, Section 18, a Partici-
pant’s Current Service Benefit shall be deter-
mined in accordance with subsection (i) or (ii)
below, whichever yields the greater benefit.
(i) Annual Earnings.
(A) The first step is to determine the
annual benefit for each year the Par-
ticipant is entitled to Current Service
Credit based on his Earnings Credit
for such year and in accordance with
the following schedule.
(B) The second step is to total all of the
sums obtained in (A) above. The
amount so obtained is the amount of
the annual Current Service Benefit.
Earnings Credit for Current Service
The Benefit for Each Year of Current Service Credit is:
$ 0 to $ 2,500 4.15% of Earnings Credit
$ 2,501 to $ 5,000$ 103.75 plus
3.83% of excess over $ 2,500
$ 5,001 to $ 30,000199.50 plus
2.92% of excess over $ 5,000
$ 30,001 to $ 50,000929.50 plus
1.65% of excess over $ 30,000
$ 50,001 to $ 75,0001,259.50 plus
1.40% of excess over $ 50,000
$ 75,000 to $ 100,0001,609.50 plus
1.24% of excess over $ 75,000
$100,001 and over *1,919.50 plus
1.08% of excess over $100,000
* Up to the maximum provided in Article VIII, Section 18. For
Calendar Years prior to January 1, 1989, Earnings Credit in
excess of $200,000 shall be determined at the rate of .90%.
(ii) Average Earnings.
(A) The first step is to determine the Par-
ticipant’s average earnings by totaling
the Earnings Credit for each year of
Current Service Credit and dividing
by the number of years of Current
Service Credit.
(B) The second step is to calculate the an-
nual benefit based on the amount de-
termined in (A) above in accordance
with the following schedule.
(C) The final step is to multiply the annual
benefit determined in (B) above by the
total years of Current Service Credit to
which the Participant is entitled. The
amount so obtained is the amount of
the annual Current Service Benefit.
Earnings Credit for Current Service
The Benefit for Each Year of Current Service Credit is:
$ 0 to $ 2,500 4.15% of Earnings Credit
$ 2,501 to $ 5,000$ 103.75 plus
3.83% of excess over $ 2,500
$ 5,001 to $ 30,000199.50 plus
2.92% of excess over $ 5,000
$ 30,001 to $ 50,000929.50 plus
1.65% of excess over $ 30,000
$ 50,001 to $ 75,0001,259.50 plus
1.40% of excess over $ 50,000
$ 75,001 to $ 100,0001,609.50 plus
1.24% of excess over $ 75,000
$ 100,001 and over *1,919.50 plus
1.08% of excess over $100,000
* Up to the maximum provided in Article VIII, Section 18. For
Calendar Years prior to January 1, 1989, the maximum an-
nual compensation recognized shall be $200,000.
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(3) In no event shall the monthly amount of
Regular Pension be greater than $4,000 per
month, except in accordance with subsection
(c) below or Article VIII, Section 5(c).
(b) The monthly amount of a Regular Pension ef-
fective on or after January 1, 1996 shall be the
sum of the annual Prior Service Benefit plus the
annual Current Service Benefit (as determined
under paragraphs (1) and (2) of this subsection
(b)), divided by 12. A minimum monthly Regular
Pension of $220.00 shall apply if the sum of the
Prior Service Benefit plus the Current Service
Benefit plus the monthly benefit earned as a Plan
Office Participant and/or Guild Office Participant
(as determined under paragraphs (c) and (e) of
this Section 3) is less than $220.00. If the amount
of the Regular Pension determined is not already
a multiple of $.50, it shall be rounded to the next
higher multiple of $.50.
(1) Prior Service Benefit. The amount of annual
Prior Service Benefit is determine as follows:
(i) The first step is to determine the average
annual Earnings Credit to which the Par-
ticipant is entitled for the most recent five
years of Prior Service Credit.
(ii) The second step is to calculate the an-
nual benefit based on the amount in (i)
above in accordance with the following
schedule:
Table 1
Earnings Credit for Prior Service
The Benefit for Each Year of Prior Service Credit is:
$ 0 to $ 2,500 8.23% of Earnings Credit
$ 2,501 to $ 5,000$ 205.75 plus
7.60% of excess over $ 2,500
$ 5,001 to $ 7,500395.75 plus
5.08% of excess over $ 5,000
$ 7,501 to $ 25,000522.75 plus
4.66% of excess over $ 7,500
$ 25,001 to $ 30,0001,338.25 plus
4.10% of excess over $ 25,000
$ 30,001 to $ 50,0001,543.25 plus
1.42% of excess over $ 30,000
Over $ 50,0001,827.25 plus
1.30% of excess over $ 50,000
(iii) The final step is to multiply the annual
benefit obtained in (ii) above by the total
years of Prior Service Credit to which
the Participant is entitled. The amount so
obtained is the amount of annual Prior
Service Benefit.
(iv) If the Participant has less than five years
of Prior Service Credit, the schedule
shown above is applied to the amount of
Earnings Credit to which the Participant is
entitled to each year of Prior Service Cred-
it. The sum of the amounts so determined
is the amount of the annual Prior Service
Benefit for those Participants who have
accumulated less than five years of Prior
Service Credit.
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(2) Current Service Benefit. Subject to limits
described in Article VIII, Section 18, a Partici-
pant’s Current Service Benefit shall be deter-
mined in accordance with subsection (i) or (ii)
below, whichever yields the greater benefit.
(i) Annual Earnings.
(A) The first step is to determine the
annual benefit for each year the Par-
ticipant is entitled to Current Service
Credit based on his Earnings Credit
for such year and in accordance with
the following schedules.
(B) The second step is to total all of the
sums obtained in (A) above. The
amount so obtained is the amount of
the annual Current Service Benefit.
Table 2
Earnings Creditfor Current Service earned prior to 1996
The Benefit for Each Year ofCurrent Service Creditearned prior to 1996 is:
$ 0 to $ 2,500 4.57% of Earnings Credit
$ 2,501 to $ 5,000$ 114.25 plus
4.21% of excess over $ 2,500
$ 5,001 to $ 30,000$ 219.50 plus
3.21% of excess over $ 5,000
$ 30,001 to $ 50,000$ 1,022.00 plus
1.82% of excess over $ 30,000
$ 50,001 to $ 75,000$ 1,386.00 plus
1.54% of excess over $ 50,000
$ 75,001 to $100,000$ 1,771.00 plus
1.36% of excess over $ 75,000
$100,001 and over *$ 2,111.00 plus
1.19% of excess over $100,000
Table 3
Earnings Creditfor Current ServiceAfter 1995 and prior
to 1999
The Benefit for Each Year of Current Service Credit
after 1995 and prior to 1999 is:
$ 7,500 to $ 50,000$272.50 plus 3.5% of
Earnings Credit over $ 7,500**
$ 50,001 to $100,000$1,760.00 plus
2.5% of excess over $ 50,000
$100,001 and over*$3,010.00 plus
1.5% of excess over $ 100,000
Table 4
Earnings Creditfor Current
Service after 1998 and prior to 2010
The Benefit for Each Year of Current Service Credit
after 1998 and prior to 2010 is:
All Earnings Credit* 3.5% of Earnings Credit
Table 5
Earnings Creditfor Current Service
after 2009
The Benefit for Each Year of Current Service Credit
after 2009 is:
All Earnings Credit* 2.0% of Earnings Credit
* Up to the maximum provided in Article VIII, Section 18. For
Calendar Years prior to January 1, 1989, Earnings Credit in
excess of $200,000 shall be determined at the rate of .90%.
**If a Participant earns a year of Pension Credit based on less
than $7,500 of Earnings Credit, such Participant’s annual
pension benefit shall not be less than $272.50 for each year
of Pension Credit.
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(ii) Average Earnings.
(A) The first step is to determine the Par-
ticipant’s average earnings by totaling
the Earnings Credit for each year of
Current Service Credit and dividing
by the number of years of Current
Service Credit.
(B) The second step is to calculate the an-
nual benefit based on the amount de-
termined in (A) above in accordance
with the following schedules.
Table 6
Average Earnings Credit
for Current Service
The Benefit for Each Year of Current Service Credit prior
to January 1, 1996 is:
$ 0 to $ 2,500 4.57% of Average Earnings
$ 2,501 to $ 5,000$ 114.25 plus
4.21% of excess over $ 2,500
$ 5,001 to $ 30,000$ 219.50 plus
3.21% of excess over $ 5,000
$ 30,001 to $ 50,000$ 1,022.00 plus
1.82% of excess over $ 30,000
$ 50,001 to $ 75,000$ 1,386.00 plus
1.54% of excess over $ 50,000
$ 75,001 to $100,000$ 1,771.00 plus
1.36% of excess over $ 75,000
$100,001 and over*$ 2,111.00 plus
1.19% of excess over $100,000
Table 7
Average Earnings Credit
for Current Service
The Benefit for Each Year of Current Service Credit After
1995 and prior to 1999 is:
$ 7,500 to $ 50,000$ 272.50 plus 3.5% of Average
Earnings over $ 7,500**
$ 50,001 to $100,000$ 1,760.00 plus
2.5% of excess over $ 50,000
$100,001 and over*$ 3,010.00 plus
1.5% of excess over $100,000
Table 8
Average Earnings Credit for
Current Service
The Benefit for Each Year of Current Service Credit after
1998 and prior to 2010 is:
All Earnings Credit* 3.5% of Average Earnings
Table 9
Average Earnings Credit for
Current Service
The Benefit for Each Year ofCurrent Service Credit
after 2009 is:
All Earnings Credit* 2.0% of Average Earnings
* Up to maximum limit of compensation in Article VIII, Sec-
tion 18. For Calendar Years prior to January 1, 1989, the
maximum annual compensation recognized shall be
$200,000.
** If the Participant’s average earnings are less than $7,500,
such Participant’s annual pension benefit shall not be less
than $272.50 for each year of Pension Credit.
(C) The final step is to: multiply the an-
nual benefit determined in Table 6
above by the total years of Current
Service Credit earned prior to January
1, 1996; multiply the annual benefit
determined in Table 7 above by the
total years of Current Service Credit
the Participant earned after 1995 but
prior to 1999; and multiply the annual
benefit determined in Table 8 above
by the total years of Current Service
Credit the Participant earned after
1998 but prior to 2010; and multiply
the annual benefit determined in
Table 9 above by the total years of
Current Service Credit the Participant
earned after 2009. The sum of these
amounts is the amount of the annual
Current Service Benefit.
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(3) Maximum Pension.
(i) Prior to July 1, 2007, in no event shall the
monthly amount of Regular Pension ef-
fective on and after January 1, 1999 be
greater than $6,000 ($5,000 for Regular
Pensions effective prior to January 1, 1999
but after December 31, 1997, and $4,400
for Regular Pensions effective prior to
January 1, 1998) per month, except in
accordance with subsections (c)(2) or (e)
below, or Article VIII, Section 5(c).
(ii) Effective July 1, 2007, in no event shall
the monthly amount of Regular Pension
be greater than the amount in accordance
with the following schedule, except in
accordance with subsection (c)(2) or (e)
below or Article VIII, Section 5 (c).
Pension Credits as of the Annuity Starting Date
Maximum Monthly Benefit
Less than 20$ 6,500 monthly
maximum
20 through 29 Pension Credits$ 7,000 monthly
maximum
30 through 34 Pension Credits $ 7,500 monthly
maximum
35 or more Pension Credits$ 8,000 monthly
maximum
(c) Plan Office Participants. The monthly amount of
a Regular Pension for Plan Office Participants for
pensions effective on or after January 1, 1996 shall
be the greater of the following:
(1) The Participant’s monthly pension, computed
in accordance with the provisions of Sections
3(a) and 3(b). For the purposes of this section
3(c)(1), the provisions of Sections 3(a)(3) and
3(b)(3) shall not apply.
(2) 3.5% (3.0% for pensions effective prior to
January 1, 1996) of the Participant’s Average
Annual Compensation multiplied by the Par-
ticipant’s Years of Pension Credit and dividing
that sum by 12. In no event shall the annual
amount of a Regular Pension determined
under this subsection (2) exceed 70% of the
Participant’s Average Annual Compensation
except in accordance with Article VIII, Section
5(c).
(i) A Participant’s Average Annual Compen-
sation shall be computed by adding the
Participant’s annual Compensation for
each of the Participant’s five highest con-
secutive Calendar Years of Compensation
in which he earned a Pension Credit and
dividing that sum by 5. For the purpose
of determining a Participant’s Average
Annual Compensation under this Section
3(c), the determination of consecutive Cal-
endar Years of Compensation shall ignore
Calendar Years prior to a Permanent Break
in Service as defined in Section 28(b) of
Article I.
(ii) Subject to Article VIII, Section 18, a Partici-
pant’s annual Compensation shall mean
the total cash salary or wages paid to the
Participant during a Plan Year and report-
able as earnings subject to income tax
on form W-2. Compensation shall include
amounts deferred under the Screen Ac-
tors Guild – Producers Pension Plan 401(k)
Plan, the Screen Actors Guild – Producers
Pension Plan Section 457 Deferred Com-
pensation Plan or the Screen Actors Guild
– Producers Pension Plan Section 457(f)
Excess Deferred Compensation Plan as
well as benefits paid from the Screen Ac-
tors Guild – Producers Pension Plan Exec-
utive Deferred Compensation Plan. Com-
pensation shall exclude: (1) commission
and other incentive compensation; (2)
cash reimbursement of moving expenses
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and educational reimbursements to the
extent such reimbursements are subject
to income tax and reportable on Form
W-2; (3) the taxable portion of any statu-
tory or nonstatutory fringe benefits, in-
cluding without limitation group-term life
insurance, automobiles and automobile
allowances, to the extent such benefits
are subject to income tax and reportable
on Form W-2; (4) Air Quality Management
District incentive pay.
(d) Retiree Increases.
(1) Effective January 1, 1996 the monthly pension
payment of all Pensioners who retired prior
to January 1, 1996 and who were receiving
pension benefits on January 1, 1996 shall be
increased by 10%.
(2) Effective January 1, 1999 the monthly pension
payment of each Pensioner whose pension
effective date was on or before December 1,
1998 and who was receiving pension benefits
on or after January 1, 1998 shall be increased
by the larger of the following, retroactive to
the later of January 1, 1998 or such Pension-
er’s pension effective date:
(i) 7.5% of the pension amount being re-
ceived other than any pension amount
added by the application of Section 5(c) of
Articles VIII, or
(ii) the increase in the pension amount which
would result solely from recalculating
such pension amount using a maximum
monthly pension amount of $5,000 in
lieu of the maximum monthly pension
amount originally used.
(3) Effective January 1, 1999 the monthly pension
payment of each Pensioner whose pension
effective date was on or before December 1,
1998 and who was receiving pension benefits
on or after January 1, 1999 shall be increased
by the larger of the following, retroactive to
January 1, 1999:
(i) 5.0% of the pension amount being re-
ceived or
(ii) the increase in the pension amount which
would result solely from recalculating
such pension amount using a maximum
monthly pension amount of $6,000 in
lieu of the maximum monthly pension
amount originally used.
(4) Effective July 1, 2007, the monthly pension
payment of each Pensioner whose pension
effective date was on or before June 30, 2007
and who was receiving pension benefits on
or after July 1, 2007 shall be increased by the
larger of the following, retroactive to July 1,
2007:
(i) 3.0% of the pension amount being
received
(ii) the increase in the pension amount which
would result solely from recalculating
such pension amount using a maximum
monthly pension amount in accordance
with the following schedule, in lieu of
the maximum pension amount originally
used.
Pension Credits as of the July 1, 2007
Maximum Monthly Benefit
Less than 20$ 6,500 monthly
maximum
20 through 29 Pension Credits$ 7,000 monthly
maximum
30 through 34 Pension Credits$ 7,500 monthly
maximum
35 or more Pension Credits$ 8,000 monthly
maximum
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(e) Guild Office Participants. For pensions effective on
or after January 1, 2004, the monthly amount of a
Regular Pension for Guild Office Participants who
have earned at least one year of Pension Credit
after December 31, 2003 shall be equal to (1) plus
(2), if applicable, but no less than the amount in (3),
and no greater than the amount in (4) below:
(1) 3.5% of the Participant’s Average Annual Com-
pensation, as provided in Article III, Section 3,
paragraphs (c)(2)(i) and (ii) above, multiplied
by the Participant’s years of Pension Credit
earned on or after January 1, 2004.
(2) The Accrued Benefit determined under the
Guild Plan (as defined in Appendix A) deter-
mined as of December 31, 2003, provided,
however that such Guild Office Participant’s
Final Average Monthly Compensation and
Covered Compensation (as defined in Ap-
pendix A) shall be determined as the date
of such Participant’s termination of employ-
ment. However, for the purposes of the Ac-
crued Benefit as defined in Appendix A, the
term “Final Average Monthly Compensation”
shall be substituted with the Plan’s “Average
Annual Compensation” divided by 12, with
Compensation prior to 2004 determined in
accordance with the Guild Plan’s definition of
Compensation.
(3) In no event shall a Guild Office Participant be
entitled to a monthly pension that is less than
the benefit accrued under the Screen Actors
Guild Employees Retirement Plan as of De-
cember 31, 2003, as provided under Appendix
A of the Plan.
(4) In no event shall a Guild Office Participant be
entitled to an annual amount which exceeds
70% of the Participant’s Average Annual Com-
pensation except in accordance with Article
VIII, Section 5(c).
The monthly amount of a Regular Pension for Guild
Office Participants who do not earn at least one
year of Pension Credit after December 31, 2003
shall be determined in accordance with Appendix A.
Section 4. Eligibility for Early Retirement
Pension. A Participant may retire on an Early Retire-
ment Pension if he meets the following requirements:
(a) He has attained age 55 but has not yet attained
age 65; and
(b) He has at least 10 years of Pension Credit.
Section 5. Amount of Early Retirement Pension.
The Early Retirement Pension shall be a monthly
amount determined as follows:
(a) The first step is to determine the amount of the
Regular Pension to which the Participant would be
entitled if he were 65 years of age at the time his
Early Retirement Pension is to be effective.
(b) The second step, to take account of the fact that
the Participant is younger than age 65, is to reduce
the amount determined under Subsection (a)
above as follows:
(1) For pensions effective on and after January 1,
1992, the reduction shall be ¼ of 1% for each
month by which the Participant is younger
than age 65 on the effective date of his Early
Retirement Pension.
(2) For pensions effective prior to January 1,
1992, the reduction shall be ½ of 1% for each
month by which the Participant is younger
than age 65 on the effective date of his Early
Retirement Pension.
(3) Notwithstanding the foregoing, effective Jan-
uary 1, 1992, the pension benefits of Pension-
ers who retired on an Early Retirement Pen-
sion between January 1, 1991 and December
31, 1991 shall be adjusted in accordance with
Subsection (1) above. Such adjustment shall
have no retroactive effect.
(4) Notwithstanding the foregoing, effective Jan-
uary 1, 1996, the pension benefits of Pension-
ers who retired on an Early Retirement Pen-
sion prior to January 1, 1991 shall be adjusted
in accordance with Subsection (1) above.
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Such adjustment shall have no retroactive
effect.
(c) The final step is to round up the amount deter-
mined under Subsection (b) above by bringing
it to the next higher multiple of $.50, unless it is
already a multiple of $.50.
Section 6. Eligibility for Vested Pension.
(a) A Participant who meets one of the following
requirements shall have the right to a Vested Pen-
sion:
(1) He has at least 10 years of Vesting Service
including, for purposes of this Section 6(a)(1)
only, any years of Vesting Service which were
otherwise lost due to a Permanent Break in
Service, or
(2) He has attained Normal Retirement Age and
is either an Active Participant at the time he
reaches Normal Retirement Age or attains the
status of Active Participant after reaching Nor-
mal Retirement Age, or
(3) He has at least five (5) years of Vesting Service
without a Permanent Break in Service and:
(i) he does not have one or more consecu-
tive One-Year Breaks in Service as of Jan-
uary 1, 1999 and has at least one hour of
Earnings Credit after December 31, 1998
and before incurring a Permanent Break in
Service, or
(ii) he does have one more consecutive One-
Year Breaks in Service as of January 1,
1999 and earns at least one Pension Credit
after December 31, 1998 and before incur-
ring a Permanent Break in Service, or
(iii) He is a Plan Office Participant, or
(iv) He is a Guild Office Participant, provided
that the Break in Service provisions of this
Plan shall not apply for periods prior to
January 1, 2004.
(b) Notwithstanding the provisions of subsection (a)
above, if a Plan Office Participant satisfied the re-
quirements for a Vested Pension prior to January
1, 1989 with less than 10 years of Vesting Service,
pension payments shall not commence until the
later of January 1, 1989 or retirement.
(c) A Vested Pension shall be payable upon retirement
(1) after the Participant has attained age 65, in the
case of a Participant who becomes eligible for
a Vested Pension in accordance with Section
6(a)(1) or 6(a)(3), or
(2) after the Participant has satisfied the require-
ments of Section 6(a)(2), for a Participant
who becomes eligible for a Vested Pension in
accordance with Section 6(a)(2), but not in ac-
cordance with Section 6(a)(1) or 6(a)(3).
Section 7. Amount of Vested Pension. The Vested
Pension shall be calculated in the same manner as the
Regular Pension except that the minimum pension
amount as set forth in Article III, Section 3 shall not ap-
ply to a Participant who becomes eligible for a Vested
Pension in accordance with Section 6(a)(2), 6(a)(3) or
6(b) of this Article, and who has less than 10 years of
Vesting Service. However, if a Participant who retires
on a Vested Pension with less than 10 years of Vesting
Service, subsequently earns 10 years of Vesting Ser-
vice, he shall be entitled to the minimum effective on
the later of January 1, 1989 or the first month follow-
ing the month in which his 10th year of Vesting Service
was earned. If a Participant who retires on a Vested
Pension with less than 10 years of Vesting Service sub-
sequently earns 10 years of Pension Credit, he shall be
entitled to convert his Vested Pension to a Regular Pen-
sion and be entitled to the minimum effective on the
later of January 1, 1989 or the first month following
the month in which his 10th year of Pension Credit was
earned.
If a Participant satisfied the requirements of Section
6(a)(2) of this Article prior to September 8, 1981, pen-
sion payments shall not commence until the later of
September 8, 1981 or retirement.
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Section 8. Eligibility for Disability Pension.
(a) Disability Pension. A totally disabled Participant
shall be entitled to a Disability Pension commenc-
ing not earlier than January 1, 1981, if he meets
the following requirements:
(1) He is younger than age 65; and
(2) He has at least 10 years of Pension Credit; and
(3) He has one year of Pension Credit in the six
Calendar Year period preceding the date he
became disabled or January 1, 1981, which-
ever date is later, including the Calendar Year
in which his disability commenced.
(b) Occupational Disability Pension. A totally disabled
Participant shall be entitled to an Occupational Dis-
ability Pension commencing not earlier than July 1,
1994, if he meets the following requirements:
(1) He is younger than age 65; and
(2) He has at least 5 years of Pension Credit; and
(3) He has one year of Pension Credit in the six
Calendar Year period preceding the date he
became disabled or July 1, 1994, whichever
date is later, including the Calendar Year in
which is disability commenced; and
(4) His disability occurred in the course of em-
ployment covered by this Plan. For purposes
of this Section 8(b), a disability caused by an
injury sustained at an audition or rehearsal,
during travel to or from location or during
preparation for production or production shall
be deemed to be a disability which occurred
in the course of employment covered by the
Plan.
Section 9. Amount of Disability Pension. The
Disability Pension shall be a monthly amount equal
to the monthly amount of Regular Pension to which
the Participant would be entitled if he were age 65
years of age at the time his Disability Pension is to be
effective.
Section 10. Total Disability Defined. A Partici-
pant shall be deemed to be totally disabled within the
meaning of this Section if:
(a) He has been awarded a Social Security Disability
Benefit by the Federal Social Security Administra-
tion in connection with his Old Age and Survivor’s
Insurance Coverage or he has been awarded a
Supplemental Security Income Disability Benefit
by the Federal Social Security Administration, and
(b) The Board of Trustees, in its sole and absolute
judgement, finds that on the basis of such com-
petent medical evidence as the Board of Trustees
may require to be shown, the individual is unable
to engage in any substantial gainful activity by
reason of any medically determinable physical
or mental impairment which can be expected to
result in death or to continue for the individual’s
lifetime, and such bodily injury or disease is not
due to such individual’s commission of or attempt
to commit a felony, or the engagement in any fe-
lonious activity or occupation, or the self-infliction
of any injury, or as a result of habitual drunken-
ness or the use of narcotics, unless the same were
administered pursuant to the orders of a licensed
physician. The application of the provisions of this
subsection may be waived by the Board of Trust-
ees upon good cause satisfactory to the Board be-
ing established.
The Board of Trustees may at any time, or from time
to time, require evidence of continued entitlement to
such Social Security Disability Benefit and may at any
time, notwithstanding the prior granting of a Disability
Pension under the Plan, require that the individual sat-
isfy the provisions of subsection (b) of this Section as
a prerequisite to the continuance of the Disability Pen-
sion granted under the Plan.
Section 11. Disability Pension Payments. For
Participants who become totally disabled prior to Jan-
uary 1, 1996, the Disability Pension shall commence
on the Social Security Disability Award date of entitle-
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ment. For Participants who become totally disabled on
or after January 1, 1996, the Disability Pension shall
commence on the first of the month following the
date the Participant becomes totally disabled as deter-
mined by the Social Security Administration. Disability
Pension payments shall continue for as long as such
disability continues and the Pensioner remains totally
disabled as defined in Section 10.
Section 12. Recovery by a Pensioner on a Dis-
ability Pension. If a Pensioner on a Disability Pen-
sion loses entitlement to a Social Security Disability
Pension, or recovers from a disability, the Pensioner
shall report such fact in writing to the Board of Trustees
within 30 days of the date he receives notice from the
Social Security Administration or the date of such re-
covery.
A Pensioner on a Disability Pension who is no longer
totally disabled may resume employment covered by
the Plan and will thereupon resume the accrual of Pen-
sion Credit.
Section 13. Eligibility for Service Pension. A
Participant may retire on a Service Pension if he meets
the following requirements:
(a) He has attained age 55; and
(b) he has at least 10 years of Pension Credit; and
(c) he has earned at least 5 years of Pension Credit
as a Plan Office Participant and/or a Guild Office
Participant; and
(d) the sum of his age and years of Pension Credit is
at least 75; and
(e) he was not awarded an Early Retirement Pension
prior to April 1, 1991; and
(f) he was not awarded an Early Retirement Pension
under the Screen Actors Guild Employees Retire-
ment Plan prior to January 1, 2004.
Section 14. Amount of Service Pension. The
monthly amount of Service Pension is determined in
the same way as the monthly amount of the Regular
Pension is determined.
Section 15. Conversion from Early Retirement
Pension to Disability Pension. Effective January
1, 1996, if a pensioner receiving an Early Retirement
Pension is granted a Social Security Disability benefit
in accordance with Section 10(a) of this Article III and
the Social Security Disability benefit has a date of dis-
ability preceding or coincident with the effective date
of his Early Retirement Pension, he will be allowed,
should he so elect, to convert his Early Retirement Pen-
sion to a Disability Pension. The request to change the
type of pension must be in writing and filed with the
Plan Office along with a copy of the notice of entitle-
ment of Social Security Disability benefits. The effec-
tive date of the Disability Pension shall be determined
in accordance with Section 11 of this Article III. The
amount of the Disability Pension shall be determined
in accordance with Section 9 of this Article III and the
retroactive increase in monthly benefit amount from
the Disability Pension effective date to the date the
pension is converted shall be paid in a lump sum. A
Pensioner who elects to convert his Early Retirement
Pension to a Disability Pension may, at the time of the
conversion and with the consent of his spouse, if ap-
plicable, change the form of pension he is receiving. A
Guild Office Participant is not entitled to benefits under
this Section 15 unless the effective date of his Early
Retirement Pension is after December 31, 2003.
Section 16. Eligibility for Terminal Illness
Benefit.
(a) A totally disabled Participant who is terminally ill
shall be entitled to a Terminal Illness Benefit com-
mencing no earlier than January 1, 1996, if he
meets the following requirements:
(1) He is younger than age 65;
(2) He has accrued at least 10 years of Pension
Credit.
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(b) For purposes of this Section 16, a Participant shall
be deemed totally disabled if he meets the re-
quirements of Section 10(b) of this Article. A Partic-
ipant shall be deemed terminally ill upon written
certification from a physician legally authorized
to practice medicine that the Participant has a life
expectancy of less than one year.
(c) If the Participant is married, the Participant’s
spouse must consent to a waiver of the 50% Joint
and Survivor Pension under Article IV, Section 4
with respect to the portion of the accrued benefit
which is paid in accordance with Section 17(a) of
this Article, provided however, that with regard to
Same-Sex Domestic Partners, such consent will
not be required.
(d) A Participant who elects to receive a Terminal Ill-
ness Benefit shall not be eligible to retire on a Dis-
ability Pension.
Section 17. Amount of Terminal Illness Benefit.
(a) The amount of the Terminal Illness Benefit shall
be an amount equal to one-half of the Death
Before Retirement benefit described in Article V,
Section 1(a) which would have been payable if
the Participant had died on the date the Trustees
determined the Participant was entitled to a Ter-
minal Illness Benefit. The Terminal Illness Benefit
shall be paid in a single lump sum payment. The
remainder of the Participant’s accrued benefit
shall be paid in accordance with subsections (b)
and (c) below.
(b) If a Participant receives a Terminal Illness Benefit
and dies prior to the commencement of benefits
under subsection (c) below, then the Partici-
pant’s beneficiary or spouse shall be entitled
to death benefits under Article IV, Section 4 or
Article V, Section 1, whichever is applicable. The
amount of any death benefit payable under Ar-
ticle V, Section 1 shall be reduced by the amount
of the Terminal Illness Benefit lump sum that
was paid. If benefits are payable under Article
IV, Section 4 on the date of death, the 50% Joint
and Survivor Pension otherwise payable shall
be reduced by the actuarial equivalent of the Ter-
minal Illness Benefit lump sum which was paid.
(c) If a Participant receives a Terminal Illness Bene-
fit, the remainder of his accrued benefit shall be
payable as a Regular, Early Retirement, Vested
or Service Pension (whichever he elects) when
he is otherwise eligible for such pension and if
he is then alive. The amount of the Participant’s
pension shall be reduced by the actuarial equiv-
alent of the lump sum Terminal Illness Benefit
which was paid.
(d) For purposes of this Section, actuarial equiva-
lence shall be determined on the basis of the
assumptions for disability pensions contained in
Article VII, Section 3(a)(3).
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III-A. P
ro R
ata
Pe
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n
Section 1. Purpose. Pro Rata Pensions are provided
under this Plan for Participants who would otherwise
be ineligible for a pension because their years of em-
ployment have been divided between employment
creditable under this Plan and employment creditable
under the Motion Picture Industry Pension Plan.
Section 2. Related Service Credit. The term “Re-
lated Service Credit” means service credit accumulat-
ed by a Participant under the Motion Picture Industry
Pension Plan. The Trustees shall compute Related Plan
Service Credits on the basis on which that credit has
been earned under the Motion Picture Industry Pen-
sion Plan and certified by that Plan to this Plan.
Section 3. Combined Service Credit. The term
“Combined Service Credit” means the total Related
Service Credit plus Pension Credit accumulated under
this Plan by a Participant.
Section 4. Eligibility for a Pro Rata Pension. A
Participant who has retired shall be eligible for a Pro
Rata Pension if he or she meets the following require-
ments:
(a) he or she would be eligible for a Regular, Disabil-
ity or Early Retirement Pension under this Plan
were his or her Combined Service Credit treated
as Pension Credit under this Plan; and
(b) he or she has earned at least five years of Pension
Credit under this Plan and five years of Related
Service Credit; and
(c) he or she has earned, after January 1, 1992, at
least one year of Current Service Credit under this
Plan.
ARTICLE III-A. Pro Rata Pension
Section 5. Breaks in Service. Credit earned prior
to a Permanent Break in Service under this Plan or
the Motion Picture Industry Pension Plan shall not
be counted in determining the Participant’s Pro Rata
Pension.
Section 6. Amount of the Pro Rata Pension. The
monthly amount of the Pro Rata Pension is determined
in the same way as the Regular, Early Retirement or
Disability Pension based only on the Pension Credit
earned under this Plan and excluding Related Service
Credit.
Section 7. Payment. Payment of a Pro Rata Pen-
sion shall be subject to all the conditions applicable to
the other types of pensions under this Plan. Pro Rata
payments subject to this Article shall be limited to:
(a) monthly pension payments to a Pensioner and, if
applicable, his surviving spouse or Beneficiary; or (b)
death benefits payable in accordance with Article V.
Section 8. Death Before Retirement. If a Partici-
pant dies before retirement, Related Service Credit
may be used for purposes of determining eligibility for
the Death Before Retirement Benefit under Article V,
Section 1 or the 50% Joint and Survivor Pension under
Article IV, Section 4 provided he or she has earned at
least:
(a) five years of Pension Credit under this Plan, in-
cluding one year of Current Service Credit after
January 1, 1992; and
(b) five years of Related Service Credit.
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ARTICLE IV. 50% Joint and Survivor Pension
Section 1. General. The 50% Joint and Survivor
Pension provides a lifetime pension for the married
Participant plus a lifetime pension for his (or her)
surviving legal spouse, starting after the death of the
Participant or Pensioner. The monthly amount payable
to the surviving legal spouse is one-half the monthly
amount payable to the Participant or Pensioner. When
a 50% Joint and Survivor Pension is in effect, the
monthly amount of pension earned is reduced in ac-
cordance with the provisions of Section 5 from the full
amount otherwise payable.
Each Participant shall be provided with a written gen-
eral description of the 50% Joint and Survivor Pension,
the circumstances under which it will be provided un-
less the Participant has elected not to have benefits
provided in that form, the availability of such election,
a general explanation of the relative financial effect on
a Participant’s pension of such election, the availability
of additional information and how such additional in-
formation may be obtained. This information shall be
provided at least 30 days but not more than 180 days
before the Participant’s Annuity Starting Date.
Section 2. Effective Date. The provisions of this
Article apply only to pensions which are effective on or
after January 1, 1976.
Section 3. Upon Retirement.
(a) A pension shall be paid in the form of a 50% Joint
and Survivor Pension to a married Participant un-
less the Participant has filed with the Trustees in
writing a timely rejection of that form of Pension,
subject to all the conditions of this Section.
(b) A married Participant may reject the 50% Joint and
Survivor Pension (or revoke a previous rejection)
at any time during the period not more than 180
days prior to the Annuity Starting Date or less than
30 days after the Participant receives the written
explanation and information described in Section
1 of this Article. A Participant shall in any event
have the right to exercise this choice up to 180
days after he has been advised by the Trustees of
the effect of such choice on his pension.
Section 4. Before Retirement. If a married Par-
ticipant dies at a time when he has met the eligibility
requirements for a Vested Pension in accordance with
Section 6(a) of Article III, but before the Annuity Start-
ing Date of the Participant’s pension, a pension shall
be paid to his surviving legal spouse.
(a) Subject to subsection (b) below, the surviving
legal spouse of a Participant who dies before the
Participant’s Annuity Starting Date may apply for
and receive the pre-retirement 50% Joint and
Survivor Pension to which he or she is entitled on
or after the earliest date on which the Participant
could have retired and begun receiving pension
benefits. Payments shall begin as of the surviving
legal spouse’s Annuity Starting Date, determined
under Section 26 of Article I. If the Trustees con-
firm the identity and whereabouts of a surviving
legal spouse who has not applied for benefits by
Normal Retirement Age or, if later, the first of the
month following the Participant’s death, payments
to that surviving legal spouse (subject to the provi-
sions of Article VIII, Section 7) will begin automati-
cally as of that date.
(b) (1) If a Participant dies before reaching Normal
Retirement Age, any pre-retirement 50% Joint
and Survivor Pension with respect to that Par-
ticipant shall be paid starting as of no later than
the first day of the month following the day the
Participant would have reached Normal Retire-
ment Age; provided, however, that with regard
to Same-Sex Domestic Partners, those benefits
shall be paid on the first day of the calendar
month following the Participant’s death.
(2) If a Participant dies on or after Normal Retire-
ment Age, any pre-retirement 50% Joint and
Survivor Pension with respect to that Partici-
pant, whether payable to a non-spouse des-
ignated Beneficiary, a surviving legal spouse
or a Same-Sex Domestic Partner, shall be paid
starting as of the first day of the month follow-
ing the Participant’s death.
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(3) Subject to Article VIII, Section 7 regarding
small-benefit cashouts and Article V, Section
1(b) regarding alternate forms of payment, the
pre-retirement 50% Joint and Survivor Pen-
sion shall be payable to the non-spouse des-
ignated Beneficiary, surviving legal spouse or
Same-Sex Domestic Partner over the remain-
der of that individual’s life.
(c) The monthly amount payable to the contingent
annuitant of a 50% Joint and Survivor Annuity
shall be determined as follows:
(1) If such Participant’s death occurs after he has
satisfied the requirements for an Early Retire-
ment Pension, the amount of such 50% Joint
and Survivor Pension shall be calculated as
if the Participant had retired on a 50% Joint
and Survivor Pension on the day before his
death.
(2) If such Participant’s death occurs before he
has satisfied the requirements for an Early
Retirement Pension, the amount of such 50%
Joint and Survivor Pension shall be deter-
mined as if the Participant had terminated
employment on his date of death, survived
until his earliest retirement date, retired on a
50% Joint and Survivor Pension on his earli-
est retirement date, and then died on the day
he reached his earliest retirement date.
(3) In the event the contingent annuitant elects to
delay commencement of the pre-retirement
50% Joint and Survivor Pension to a date later
than the Participant’s earliest retirement date,
the benefit shall be determined as if the Par-
ticipant had died on the eligible spouse’s An-
nuity Starting Date.
“Earliest retirement date” means the earliest date
at which the Participant would have become eli-
gible for an Early Retirement Pension, a Regular
Pension, or a Vested Pension based on his years of
Vesting Service and Pension Credit at his date of
death.”
(d) In the case of a death occurring on or after Janu-
ary 1, 2007, if a Participant dies while perform-
ing qualified military service (as defined in Code
Section 414(u)), the survivors of the Participant
are entitled to any additional benefits (other than
benefit accruals relating to the period of qualified
military service) provided under the Plan as if the
Participant had resumed and then terminated em-
ployment on account of death.
Section 5. Adjustment of Pension Amount. When
a 50% Joint and Survivor Pension becomes effective,
the amount of the Participant’s monthly pension shall
be reduced in accordance with the following:
(a) For an Annuity Starting Date prior to February 1,
2006, the pension amount shall be adjusted as
follows:
(1) Non-Disability Pensions. If payment of a pen-
sion, other than a Disability Pension, is to be
made in the form of a 50% Joint and Survivor
Pension, the pension amount shall be adjust-
ed by multiplying it by the following percent-
age: 91.0 percent minus .4 percentage points
for each year the spouse’s age is less than the
Participant’s age or plus .4 percentage points
for each year the spouse’s age is greater than
the Participant’s age; provided, however, that
in no event shall the resulting percentage be
greater than 100.0 percent.
(2) Disability Pensions. If payment of a Disabil-
ity Pension is to be made in the form of a
50% Joint and Survivor Pension, the pension
amount shall be adjusted by multiplying it
by the following percentage: 83.0 percent
minus .4 percentage points for each year the
spouse’s age is less than the Participant’s age
or plus .4 percentage points for each year the
spouse’s age is greater than the Participant’s
age; provided, however, that in no event shall
the resulting percentage be greater than 100.0
percent.
(b) For an Annuity Starting Date on or after February
1, 2006, the pension amount shall be adjusted by
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multiplying it by the actuarial equivalent factor
determined using the mortality table as described
in Section 417(e) of the Internal Revenue Code and
as specified in Revenue Ruling 2001-62, and an in-
terest rate of 6.50%. However, in no event shall the
resulting amount be less than the pension amount
accrued through January 31, 2006 reduced accord-
ing to the basis set forth in Section 5(a) above.
Section 6. Additional Conditions.
(a) In the event the Participant dies before retirement,
the 50% Joint and Survivor Pension shall not be
payable unless the Participant and his legal spouse
have been married throughout the one-year period
ending on the Participant’s date of death.
(b) The 50% Joint and Survivor Pension shall not
be payable unless the Participant and his legal
spouse are married on the Annuity Starting Date
of the Participant’s Pension.
(c) The Trustees shall be entitled to rely on the written
representation last filed by the Participant before
his pension payments commenced as to whether
he or she is legally married. If such representation
later proves to be false, the Trustees may adjust for
any excess benefits paid as the result of the mis-
representation.
(d) Any written election, rejection or revocation (in-
cluding any change of a previous choice) made
under Article IV shall not take effect unless (a) the
spouse of the Participant consents in writing to
such election, (b) such election designates a Ben-
eficiary (or a form of benefit) which may not be
changed without spousal consent (or the consent
of the spouse expressly permits designations by
the Participant without any requirement of further
consent by the spouse), and (c) the spouse’s con-
sent acknowledges the effect of such election and
is witnessed by a notary public. Notwithstanding
the preceding sentence, no spousal consent shall
be required if it is established to the satisfaction
of the Trustees that spousal consent may not be
obtained because there is no spouse, because the
spouse cannot be located, or because of such oth-
er circumstances as the Internal Revenue Service
may by regulations prescribe.
(e) Election or revocation may not be made or altered
after payment of the pension has commenced.
(f) The rights of a prior spouse or other family mem-
ber to any share of a Participant’s pension as set
forth under a “qualified domestic relations order”
as defined by Section 206(d)(3) of ERISA, shall
take precedence over any claims of the Partici-
pant’s spouse at the time of retirement or death.
Section 7. Continuation of 50% Joint and Sur-
vivor Pension Form. The monthly amount of the
50% Joint and Survivor Pension, once it has become
payable shall not be increased if the spouse is subse-
quently divorced from the Pensioner or if the spouse
predeceases the Pensioner.
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V. D
ea
th B
en
efit
Benefits provided by this Article shall not be payable if
payments were due under the Joint and Survivor Op-
tion or the Ten-Year Certain Option.
Section 1. Death Before Retirement.
(a) Death Before Age 65. In the event a Participant
with at least five years of Pension Credit (or at
least eight years of Pension Credit including, for
purposes of this Section (1)(a) only, any years of
Pension Credit which were otherwise lost due to
a Permanent Break in Service) dies before retire-
ment and before he has attained age 65, a lump
sum Death Benefit equal to four times the annual
Current Service Benefit which the Participant had
accumulated at the time of his death, but not less
than $1,500, shall be paid to his designated Bene-
ficiary, or the person or persons selected in accor-
dance with Section 4 of this Article. The designated
beneficiary, or the person or persons selected in
accordance with Section 4 of this Article may elect,
within ninety (90) days after being given written
notice by the Plan, to received this Death Benefit
in equal monthly installments over a period not to
exceed sixty (60) months, rather than in a single
lump sum.
(b) Death After Age 65. If a Participant dies before
retirement at a time when he has met the re-
quirements for a Regular Pension, sixty monthly
payments shall be made to his designated Benefi-
ciary or the person or persons selected in accor-
dance with Section 4 of this Article in an amount
equal to the Regular Pension to which he would
have been entitled had he retired and made appli-
cation for a pension. The designated Beneficiary
or the person or persons selected in accordance
with Section 4 of this Article may elect, within
ninety (90) days after being given written notice
by the Plan, to receive these benefits in a single
lump sum payment, rather than sixty (60) month-
ly installments.
In the event a Participant with at least five years of
Pension Credit (or at least eight years of Pension
Credit including, for purposes of this Section (1)(b)
only, any years of Pension Credit which were oth-
erwise lost due to Permanent Break in Service) but
less than ten years of Pension Credit, dies before
retirement and is 65 or older, a lump sum Death
Benefit equal to four times the annual Current Ser-
vice Benefit which the Participant had accumulated
at the time of his death, but not less than $1,500
shall be paid to his designated Beneficiary, or the
person or persons selected in accordance with
Section 4 of this Article. The designated beneficiary,
or the person or persons selected in accordance
with Section 4 of this Article may elect, within nine-
ty (90) days after being given written notice by the
Plan, to receive this Death Benefit in equal monthly
installments over a period not to exceed sixty (60)
months, rather than in a single lump sum.
(c) Benefits provided by this Section 1 shall not be
payable if payments were due under the 50% Joint
and Survivor Pension, unless the deceased Partici-
pant’s surviving spouse elects, within ninety (90)
days after being given written notice from the Plan,
to receive these benefits instead of the 50% Joint
and Survivor Pension. However, if the surviving
spouse elects to receive benefits provided by this
Section 1 instead of the 50% Joint and Survivor
Pension and if the actuarial present value of the
50% Joint and Survivor Pension is greater than the
amount of the lump sum payment under subsec-
tion (a) above or the actuarial present value of the
60 monthly payments under subsection (b) above,
whichever is applicable, then the actuarial present
value of the 50% Joint and Survivor Pension shall
be paid to the surviving spouse as follows:
(1) If benefits are payable under subsection (a),
then the amount of the lump sum benefit
shall be increased so that the total amount of
the lump sum benefit is equal to the actuarial
present value of the 50% Joint and Survivor
Pension.
ARTICLE V. Death Benefit
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(2) If the benefits are payable under subsection
(b) above, then the monthly amount of the 60
monthly payments shall be increased so that
the total amount of the 60 monthly payments
is equal to the actuarial present value of the
50% Joint and Survivor Pension. The actuarial
present value of the 50% Joint and Survivor
Pension shall be determined in accordance
with (i), (ii), or (iii) below, depending on the
Participant’s Annuity Starting Date.
(i) For an Annuity Starting Date prior to
January 1, 2000, the actuarial present
value of the 50% Joint and Survivor Pen-
sion shall be determined on the basis of
the 1971 Group Annuity Mortality Table for
Males blended 40% with no set back and
60% set back seven years. The interest as-
sumption for the 50% Joint and Survivor
Pension and the 60 monthly payments un-
der subsection (b) above, shall be equal to
the rate promulgated by the U.S. Pension
Benefit Guaranty Corporation for lump
sum distributions, effective as of January
1, of the calendar year that includes the
Participant’s Annuity Starting Date.
(ii) For an Annuity Starting Date on or after
January 1, 2000, but before January 1,
2002, the actuarial present value of the
50% Joint and Survivor Pension shall be
determined on the basis of (A) or (B) be-
low, whichever produces the greater actu-
arial present value:
(A) The actuarial present value de-
termined on the basis set forth in
Section 1(c)(2)(i) above, but using
the interest rate promulgated by
the U.S. Pension Benefit Guaranty
Corporation for lump sum distri-
butions, effective as of the Decem-
ber 1 preceding the calendar year
that includes the Participant’s An-
nuity Starting Date.
(B) The actuarial present value deter-
mined on the basis of the mortality
table prescribed by the Secretary of
the Treasury pursuant to Code Section
417(e)(3) that is based on the prevail-
ing commissioners’ standard table
(described in Code Section 807(d)(5)
(A) and Revenue Ruling 95-6, 1995-1
C.B. 80) used to determine reserves
for group annuity contracts issued on
the Annuity Starting Date. The interest
rate shall be equal to the lesser of 7%
per annum or the annual rate of inter-
est on 30-year Treasury securities as
specified by the Commissioner of the
Internal Revenue Service under Code
Section 417(e)(3) for the month of
November immediately preceding the
Plan Year which contains the Annuity
Starting Date.
(iii) For an Annuity Starting Date on or after
January 1, 2002, but before January 1,
2008, the actuarial present value of the
50% Joint and Survivor Pension shall be
determined on the basis set forth in Sec-
tion 1(c)(2)(ii)9B) above.
(iv) For an Annuity Starting Date on or after
January 1, 2008, but before January 1,
2011, the actuarial present value of the
50% Joint and Survivor Pension shall be
determined using the mortality table pre-
scribed by the Secretary of the Treasury
pursuant to Code Section 417(e)(3)(B) and
the interest rate prescribed by the Secre-
tary of the Treasury pursuant to Code Sec-
tion 417(e)(3)(C) for the month of Novem-
ber immediately preceding the Plan Year
which contains the Annuity Starting Date.
(v) For an Annuity Starting Date during
2011, the actuarial present value of the
50% Joint and Survivor Pension shall be
determined using the mortality table pre-
scribed by the Secretary of the Treasury
pursuant to Code Section 417(e)(3)(B) and
the interest rate prescribed by the Sec-
retary of the Treasury pursuant to Code
Pe
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V. D
ea
th B
en
efit
Section 417(e)(3)(C) for August 2010 or
November 2010, whichever is more favor-
able to the participant.
(vi) For an Annuity Starting Date on or after
January 1, 2012, the actuarial present val-
ue of the 50% Joint and Survivor Pension
shall be determined using the mortality
table prescribed by the Secretary of the
Treasury pursuant to Code Section 417(e)
(3)(B) and the interest rate prescribed by
the Secretary of the Treasury pursuant to
Code Section 417(e)(3)(C) for the month
of August immediately preceding the Plan
Year which contains the Annuity Starting
Date.
(d) If the surviving spouse dies before making the
election allowed in subsection (c) and before
receiving any payment under the 50% Joint and
Survivor Pension, a 50% Joint and Survivor Pen-
sion in the amount accrued over the period of
survival of the surviving spouse shall be paid
to the estate of the surviving spouse; provided,
however, that if the personal representative of the
surviving spouse’s estate gives a written waiver
of such benefit, a death benefit may be paid un-
der subsection (a) or subsection (b) (depending
on the Participant’s age at death) to the person or
persons designated by the Participant as second-
ary Beneficiary or Beneficiaries or to the person or
persons selected in accordance with Section 4 of
this Article if no secondary Beneficiary was desig-
nated by the Participant.
(e) If a married Participant dies at a time when he has
met the age and service requirements for a pen-
sion in accordance with Article III, but before the
Annuity Starting Date of his pension, his surviv-
ing legal spouse may elect to receive the monthly
amount that such spouse would have received had
the participant retired on the day before his death
and had elected the 100% Joint and Survivor Op-
tion as described in Section 1 of Article VII with his
spouse named as the Contingent Annuitant. This
benefit shall not be payable unless the Participant
and his legal spouse have been married through-
out the one-year period ending on the Participant’s
date of death. If benefits under this subsection are
elected, no other Death Benefit is payable.
Section 2. Death After Retirement. In the event a
Pensioner receiving a Regular, Early Retirement, Dis-
ability, Service, Vested or Pro Rata Pension dies before
receiving 60 monthly payments, monthly payments
shall be continued to the retired Participant’s Benefi-
ciary, or the person or persons selected in accordance
with Section 4 of this Article, until a total of 60 monthly
payments have been paid to the Pensioner and his
Beneficiary, or persons selected in accordance with
Section 4 of this Article, combined.
Benefits provided by this Section 2 shall not be pay-
able if payments were due under the 50% Joint and
Survivor Pension, Joint and Survivor Option or Ten-
Year Certain Option.
Section 3. Designation of Beneficiary. A Partici-
pant or Pensioner may designate a Beneficiary or Ben-
eficiaries to receive any payments due and payable but
not actually paid prior to the death of the Pensioner or
any benefits provided in accordance with this Article V
or Section 2 of Article VII by forwarding such designa-
tion on a form acceptable to the Plan Trustees. A Par-
ticipant or Pensioner shall have the right to change his
designation of Beneficiary without the consent of the
Beneficiary, but no such change shall be effective or
binding on the Plan Trustees unless it is received by the
Plan Trustees prior to the time any payments are made
to the Beneficiary whose designation is on file with
the Plan Trustees. Any payments due and payable but
not actually paid prior to the death of the Pensioner
or any benefit provided in accordance with Article V or
Section 2 of Article VII shall be paid to such designated
Beneficiary. If such designated Beneficiary, who has
survived the Participant or Pensioner and is entitled to
the benefits, dies prior to the receipt of the payment of
benefits, such benefits shall be paid in accordance with
the procedure provided in Section 4 of this Article.
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ea
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en
efit
Section 4. Lack of Beneficiary. If no Beneficiary is
designated by a Participant, or if no designated Ben-
eficiary survives the Participant or Pensioner, or if the
designated Beneficiary survives but then dies prior to
having received all of the payments which otherwise
would have been payable to him, then any portion of
the benefits provided under this Article V or Section
2 of Article VII which remains unpaid at the time of
the Participant’s death, or, in case it is the Beneficiary
who has died, at the time of the Beneficiary’s death,
shall be paid to the first surviving class of the follow-
ing classes of successive preference Beneficiaries: The
Participant’s or Pensioner’s (a) widow or widower; (b)
surviving children (including by right of representa-
tion the issue of any deceased child or children); (c)
surviving parents; (d) surviving brothers and sisters;
(e) any other person or persons who is an object of
natural bounty of the deceased as selected by the Plan
Trustees.
Section 5. Effect of Qualified Domestic Rela-
tions Order. The rights of a prior spouse or other fam-
ily member to any share of a Participant’s benefit as
set forth under a “qualified domestic relations order”
as defined in Section 206(d)(3) of ERISA, shall take
precedence over any claims of the beneficiary or other
person entitled to benefits under this Article, at the
time of the Participant’s death.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
Pe
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Pla
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VI. E
arn
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s Cre
dit, P
en
sion
Cre
dit A
nd
Ve
stin
g S
erv
ice
Section 1. Earnings Credit.
(a) Credit for Earnings Received Prior to January 1,
1961 (Prior Service Earnings). A Participant will re-
ceive Prior Service Earnings Credit for all payments
up to but not exceeding $200,000 on account of
earnings received during any one Calendar Year
including residuals and/or deferred payments
received prior to January 1, 1961 as a result of em-
ployment as an Actor in the motion picture indus-
try by (1) a Producer who was at the time of such
employment a signatory to a Collective Bargaining
Agreement with SAG and who would have been
required to make contributions to the Plan had the
Plan been in effect or (2) a Producer who was re-
quired to make contributions to the Plan in the Cal-
endar Year 1960 in accordance with the applicable
Collective Bargaining Agreements. All Prior Service
Earnings Credits shall be attributed to the Calendar
Year in which such payments were made. If the
Plan Trustees determine that a Participant had earn-
ings which would have been counted in computing
Prior Service Earnings Credit had they been paid
when due, but which were not paid solely because
of the financial inability of the Producer to pay the
same, such earnings shall be included in comput-
ing Prior Service Earnings Credit as though they
had been actually paid and shall be attributed to
the Calendar Year in which they were due.
(b) Credit for Earnings Received on or after January
1, 1961 (Current Service Earnings). Subject to the
limits described in Article VIII, Section 18, a Partici-
pant will receive Current Service Earnings Credit
for all payments on account of earnings, including
residuals and/or deferred payments, received on
or after January 1, 1961 as the result of employ-
ment as an Actor in the motion picture industry
for which contributions are required to be made
under a Collective Bargaining Agreement with
SAG. For purposes of determining whether earn-
ings are attributable to particular employer, the
aggregation rules of Code Sections 414(b), (c),
(m), (n) and (o) shall be applied.
ARTICLE VI. Earnings Credit, Pension Credit And Vesting Service
All Current Service Earnings Credit shall be at-
tributable to the Calendar Year in which such
payments were made or should have been made
except that, Current Service Earnings Credit re-
sulting solely from deferred payments, including
payments deferred under the Screen Actors Guild-
Producers Pension Plan 401(k) Plan, the Screen
Actors Guild-Producers Pension Plan Section 457
Deferred Compensation Plan or the Screen Ac-
tors Guild-Producers Pension Plan Section 457(f)
Excess Deferred Compensation Plan, shall be at-
tributable to the Calendar Year during which the
employment producing such deferred payments
was performed. Moreover, Participants shall earn
Current Service Earnings Credit for benefits paid
from the Screen Actors Guild-Producers Executive
Deferred Compensation Plan, in the calendar year
in which the benefit is paid.
In addition to the foregoing, with respect to the-
atrical motion pictures, principal photography
of which started after January 31, 1966, but prior
to July 1, 1971, a Participant will receive Current
Service Earnings Credit for all amounts, if any,
which would have been paid to such Participant
as a result of employment as an Actor in the mo-
tion picture industry, had 50% of the Distributor’s
Gross Receipts from the exhibition of any such
motion picture in Supplemental Markets (as de-
fined in Section 3B. of the PRODUCER-SCREEN
ACTORS GUILD MEMORANDUM AGREEMENT
OF 1971) been included as Distributor’s Gross
Receipts under the revised theatrical formula
applied as set forth in Section 4A. of said PRO-
DUCER-SCREEN ACTORS GUILD MEMORANDUM
AGREEMENT OF 1971, and subject to the “no
duplication” provisions of Section 4C. thereof.
Such Credit shall be given, although no payment
of compensation is made with respect to income
from this source, provided contributions are re-
quired to be made with respect to such Distribu-
tor’s Gross Receipts under a Collective Bargain-
ing Contract with SAG.
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arn
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Cre
dit A
nd
Ve
stin
g S
erv
ice
(c) Credit for Earnings in Contiguous Non-Covered
Service. In computing Earnings Credit for pur-
poses of Section 3(b) of this Article only, earnings
received by a Participant from a Producer as a re-
sult of Contiguous Non-Covered Service, shall be
deemed earnings received as a result of employ-
ment as an Actor in the Motion Picture Industry.
(d) Non-Credited Earnings. Earnings of residuals and/
or deferred payments received on or after January
1, 1961 as a result of employment prior thereto
and on which no contributions are required to be
made to the Plan will not be credited for any pur-
pose.
(e) Differential Wage Payments. Effective January
31, 2008, differential wage payments (as defined
by Code Section 3401(h)(2)) shall be taken into
account in computing Earnings Credit under the
Plan.
Section 2. Pension Credit.
(a) General. A Participant’s total years of Pension
Credit shall be the sum of his Prior Service Credit,
Current Service Credit and Military Service Credit,
if any.
(b) Prior Service Credit. A Participant shall be entitled
to Prior Service Credit for each of the Calendar
Years 1937 to 1960, both inclusive, with respect to
which he has received Earnings Credit of at least
$2000. In no event, however, shall a Participant
be entitled to more than 20 years of Prior Service
Credit.
(c) Current Service Credit. A Participant shall be
entitled to one year of Current Service Credit for
each Calendar Year after the 1960 Calendar Year
in which he Completed 12 months of employ-
ment, except that no Current Service Credit will
be allowed for any year prior to 1976 in which the
Participant’s Earnings Credit resulted solely from
residuals unless:
(1) the Participant has at least 10 years of Pension
Credit (made up of any combination of Prior
Service Credit and Current Service Credit); and
(2) in each of the years after 1960 which are in-
cluded in such 10 years of Pension Credit, he
shall have received some payment for current
services for which contributions are payable
to the Plan.
Initially, a Participant shall be deemed to have
completed one month of employment for each
$166.67 of Earnings Credit in a Calendar Year, but
this dollar figure may be adjusted from time to
time in accordance with a schedule to be prepared
by the Trustees for this purpose. A Participant who
had both attained age 55 and earned at least 5
but less than 10 Pension Credits as of January 1,
1996 will continue to earn Pension Credit, based
on the dollar figure in effect for Calendar Year
1995, through the earlier of December 31, 2002 or
the year in which he has earned a total of 10 Pen-
sion Credits, after which time he will earn Pension
Credit based on the dollar figure then in effect. A
Participant who had earned at least 3 but less than
10 Pension Credits as of January 1, 1999 will con-
tinue to earn Pension Credit, based on the dollar
figure in effect for Calendar Year 1998, through the
earlier of December 31, 2002 or the year in which
he has earned a total of 10 Pension Credits, after
which time he will earn Pension Credit based on
the dollar figure then in effect. In no event shall a
Participant be deemed to have completed more
than twelve months of employment in any Calen-
dar Year.
A Participant who is not a Plan Office Participant
or Guild Office Participant who fails to complete
12 months of employment in a Calendar Year af-
ter 1998 but who completes at least 60 days of
employment in a Calendar Year before 2003, or at
least 70 days of employment in a Calendar Year af-
ter 2002, shall nevertheless be entitled to one Pen-
sion Credit for such Calendar Year, provided that
any Pension Credits awarded under this alternative
Pe
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VI. E
arn
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Cre
dit A
nd
Ve
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erv
ice
“days of employment” provision shall not be used
for purposes of satisfying the eligibility require-
ments for a minimum pension, an Early Retirement
Pension, a Disability Pension, an Occupational Dis-
ability Pension, or Terminal Illness Benefit.
(d) Military Service Credit.
(1) A Participant whose reemployment following
military service commenced prior to Decem-
ber 12, 1994, who has accumulated less than
a total of 10 years of Prior Service Credit and
Current Service Credit and who received less
than the minimum annual Earnings Credit
during a particular Calendar Year in which
he served in the Armed Forces of the United
States during the years after 1939 shall be
entitled to one year of Military Service Credit
for each such Calendar Year up to a maximum
of three years of Military Service Credit, or 10
years of total Pension Credit, whichever is first
achieved, provided:
(i) He had some employment and earnings
as a motion picture Actor in each of two
years prior to such military service; and
(ii) His discharge from such military service
was under a condition other than dishon-
orable.
For purposes of this Section 2(d)(1), the term
“minimum annual Earnings Credit” means the
minimum amount of Earnings Credit required
under Article VI, Section 2(c) to earn a year of
Current Service Credit.
(2) A Participant whose reemployment following
Uniformed Service commences on or after
December 12, 1994 will earn Military Service
Credit for Qualified Uniformed Service in the
same manner as Current Service Credit. For
these purposes:
(i) The term “Uniformed Service” shall mean
the period of time an Employee spends
in uniformed services as further defined
in the Uniformed Services Employment
and Reemployment Rights Act of 1994, as
amended, 38 U.S.C. §4301, et seq.
(ii) Such Uniformed Service shall be Qualified
Uniformed Service only if:
(A) The Participant worked under a SAG
Collective Bargaining Agreement in
the 12 month period immediately pre-
ceding the Uniformed Service; and
(B) Such Uniformed Service ended hon-
orably; and
(C) The Participant returns to work under
a SAG Collective Bargaining Agree-
ment within one year of concluding
Uniformed Service or within such
additional period as may be neces-
sitated by hospitalization or convales-
cence due to illness or injury incurred
or aggravated in the performance of
service in the Uniformed Service.
(iii) In addition to Earnings Credit calculated
in accordance with Article VI (“Actual
Earnings Credit”), a Participant shall be
credited with Imputed Earnings Credit
during the period he serves in Qualified
Uniformed Service. Such Imputed Earn-
ings Credit shall be based on the Partici-
pant’s Actual Earnings Credit during the
12-month period immediately preceding
such Qualified Uniformed Service reduced
by the Actual Earnings Credit credited to
the participant during that period of Quali-
fied Uniformed Service.
(iv) Qualified Uniformed Service will be
limited to 5 years of Uniformed Service,
not counting any periods of Uniformed
Service for training and involuntary ac-
tive duty extensions or where required
to complete an initial period of obligated
Uniformed Service.
(3) Earnings Credit determined under Section
2(d)(2)(iii) of this Article shall also be used in
determining a Participant’s Vesting Service
under Section 3 of this Article, and in de-
termining whether the Participant incurred
a One-Year Break in Service under Article I,
Section 28.
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arn
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s Cre
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en
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Cre
dit A
nd
Ve
stin
g S
erv
ice
(e) Military Service Further Defined. Military Service
for which Military Service Credit is allowable un-
der Section 2(d) of this Article shall also include
service during the Second World War in the armed
forces of a nation that was allied with the United
States during said war.
(f) Current Service Credit for Plan Office Participant
or Guild Office Participant effective January 1,
2004. Effective January 1, 2004, a Participant who
is a Plan Office Participant or Guild Office Partici-
pant shall be entitled to Current Service Credit
for each Calendar Year after December 31, 2003 in
which such Participant (1) earns the “minimum an-
nual Earnings Credit” as specified under Article VI,
Section 2 (c), or (2) is credited with 1,000 or more
Hours of Service.
(g) Current Service Credit for Guild Office Participant
Prior to January 1, 2004. A Guild Office Participant
will be credited with Current Service Credit prior to
January 1, 2004 equal to Years of Credited Service
he had earned as provided under the terms of the
Guild Plan.
Section 3. Years of Vesting Service. A Participant
shall be credited with one year of Vesting Service for:
(a) Each Calendar Year between January 1, 1937 and
December 31, 1960, during which the Participant
earned one year of Prior Service Credit; and
(b) Each Calendar Year after December 31, 1960, dur-
ing which the Participant receives Earnings Credit,
as provided in Section 1(b) and 1(c) of this Article,
equivalent to twelve months of employment.
A Participant shall be deemed to have completed
one month of employment for each $166.67 of
Earnings Credit in a Calendar Year, which dollar
figure may be adjusted from time to time in ac-
cordance with a schedule to be prepared by the
Trustees for this purpose. No such adjustment shall
be deemed a direct or indirect change in the vesting
schedule which would require a Participant election.
A Participant who had both attained age 55 and
earned at least 5 but less than 10 Pension Credits
as of January 1, 1996 will continue to earn Vesting
Service, based on the dollar figure in effect for Cal-
endar Year 1995, through the earlier of December
31, 2002 or the year in which he has earned a total
of 10 years of Vesting Service, after which time he
will earn Vesting Service based on the dollar figure
then in effect. A Participant who had earned at least
3 but less than 10 Pension Credits as of January 1,
1999 will continue to earn Vesting Service, based
on the dollar figure in effect for Calendar Year 1998,
through the earlier of December 31, 2002 or the
year in which he has earned a total of 10 years of
Vesting Service, after which time he will earn Vest-
ing Service Credit based on the dollar figure the in
effect. In no event shall a Participant be deemed to
have completed more than twelve months of em-
ployment in any Calendar Year.
A Participant who is not a Plan Office Participant
or Guild Office Participant who fails to complete
12 months of employment in a Calendar Year
after 1998 but who completes at least 60 days of
employment in a Calendar Year before 2003, or at
least 70 days of employment in a Calendar Year
after 2002, shall nevertheless be entitled to one
year of Vesting service for such Calendar Year.
(c) Notwithstanding any other provision of the Plan,
effective on January 1, 2004, a Participant who is
a Plan Office Participant or Guild Office Participant
shall be entitled to a year of Vesting Service for
each calendar year in which such Participant (1)
earns the “minimum annual Earnings Credit” as
specified under Article VI, Section 2 (c), or (2) is
credited with 1,000 or more Hours of Service.
(d) For purposes of determining years of Vesting Ser-
vice prior to January 1, 2004, a Guild Office Partici-
pant will be credited with years of Vesting Service
under the terms of the Guild Plan.
Pe
ns
ion
Pla
n
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TIC
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VII. O
ptio
na
l Fo
rms O
f Pe
nsio
n
Section 1. Joint and Survivor Options. Benefits
provided by this Section shall not be payable if
payments are due under the 50% Joint and Survivor
Pension.
In lieu of the pension otherwise payable to him a Par-
ticipant may elect to receive a Joint and Survivor Op-
tion with his monthly pension reduced but with 100%
or 75% of such monthly pension continuing after his
death for the lifetime of a Contingent Annuitant named
by him, subject to the provisions of Section 5 of Article
VIII. The 75% Joint and Survivor Option is only avail-
able for Annuity Starting Dates on or after January 1,
2008.
(a) When a 100% Joint and Survivor Option becomes
effective, the amount of the Participant’s monthly
pension will be reduced in accordance with the
following:
(1) For an Annuity Starting Date prior to February
1, 2006, the pension amount shall be adjusted
as follows:
(i) non-Disability Pensions. If payment of a
pension, other than a Disability Pension,
is to be made in the form of a 100% Joint
and Survivor Option, the pension amount
shall be adjusted by multiplying it by the
following percentage: 83.0 percent minus
.5 percentage points for each year the
Contingent Annuitant’s age is less than
the Participant’s age or plus .5 percentage
points for each year the Contingent Annui-
tant’s age is greater than the Participant’s
age; provided, however, that in no event
shall the resulting percentage be greater
than 100.0 percent.
(ii) Disability Pensions. If payment of a Dis-
ability Pension is to be made in the form
of a 100% Joint and Survivor Option, the
pension amount shall be adjusted by mul-
tiplying it by the following percentage:
68.0 percent minus .5 percentage points
for each year the Contingent Annuitant’s
age is less than the Participant’s age or
plus .5 percentage points for each year
the Contingent Annuitant’s age is greater
than the Participant’s age; provided, how-
ever that in no event shall the resulting
percentage be greater than 100.0 percent.
(2) For an Annuity Starting Date on or after Feb-
ruary 1, 2006, the pension amount shall be
adjusted by multiplying it by the actuarial
equivalent factor determined using the mor-
tality table as described in Section 417(e) of
the Internal Revenue Code and as specified
in Revenue Ruling 2001-62, and an interest
rate of 6.50%. However, in no event shall the
resulting amount be less than the pension
amount accrued through January 31, 2006
reduced according to the basis set forth in
Section 1(a)(1) above.
The Joint and Survivor Option shall not be pay-
able if it would result in a monthly benefit of less
than $30 to the Participant.
(b) When a 75% Joint and Survivor Option becomes
effective, the amount of the Participant’s monthly
pension will be adjusted by multiplying it by the
actuarial equivalent factor determined using the
mortality table as described in Section 417(e) of
the Internal Revenue Code and as specified in Rev-
enue Ruling 2001-62, and an interest rate of 6.50%.
The 75% Joint and Survivor Option shall not be
payable if it would result in a monthly benefit of
less than $30 to the Participant. The 75% Joint and
Survivor Option shall not be payable for Annuity
Starting Dates prior to January 1, 1008.
(c) Election of the Joint and Survivor Option shall be
subject to the following conditions:
(1) It must be made in writing in a form pre-
scribed by the Plan Trustees and filed with the
Plan Trustees prior to the date the first pension
payment is made.
(2) The Joint and Survivor Option shall take effect
only if the Participant and his Contingent An-
nuitant are both alive on the date when it is to
take effect.
ARTICLE VII. Optional Forms Of Pension
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(d) Once elected the Joint and Survivor Option may not
be revoked, except under the following conditions:
(1) Revocation must be made in writing on a form
prescribed by the Plan
Trustees and filed with the Plan Trustees prior
to the date the first pension payment is made.
(2) The Option shall be automatically revoked if
the Contingent Annuitant dies or (if the Con-
tingent Annuitant is the Participant’s spouse)
is divorced from the Participant before a pen-
sion in the optional form becomes payable. In
such event, the Participant may continue the
Option if within 90 days of such an event he
makes a choice of another Contingent Annui-
tant and communicates it to the Plan Trustees
in writing.
(e) Notice will be provided by the Plan to the Par-
ticipant including an explanation of the relative
value of the optional forms of benefits provided
hereunder.
Section 2. Ten-Year Certain Option. Benefits pro-
vided by this Section shall not be payable if payments
are due under the 50% Joint and Survivor Pension.
In lieu of the Pension otherwise available to him a
Participant who is eligible to receive a Regular, Early
Retirement, Vested, Service or Pro Rata Pension, may
elect to receive a Ten-Year Certain Option whereby the
amount of his monthly pension will be reduced but
will continue, after his death, to his Beneficiary if he
dies before receiving 120 monthly pension payments.
Payments to his Beneficiary will continue until an ag-
gregate of 120 payments have been made to the Pen-
sioner and his Beneficiary.
(a) When a Ten-Year Certain Option becomes effective,
the pension amount shall be adjusted by multiply-
ing it by the appropriate factor for the Participant’s
age in accordance with the table on the right.
Months as well as years of attained age shall be
taken into account, and the factor for each month
in excess of an attained age shall be interpolated
from the table.
Age of Participanton Effective Date
Factor
55 98.20%
56 98.01
57 97.80
58 97.56
59 97.29
60 96.98
61 96.64
62 96.25
63 95.81
64 95.33
65 94.79
66 94.20
67 93.55
68 92.86
69 92.12
70 91.32
71 90.46
72 89.54
73 88.55
74 87.50
75 86.37
76 85.19
77 83.96
78 82.69
79 81.41
80 80.10
81 78.80
82 77.49
83 76.21
84 74.95
85 73.72
86 72.54
87 71.39
88 70.29
89 69.23
90 68.20
Pe
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VII. O
ptio
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l Fo
rms O
f Pe
nsio
n
The Ten-Year Option shall not be available if it
would result in a monthly Pension of less than $30
to the Participant, nor shall it be available if the
life expectancy of the Participant, or the life expec-
tancy of the Participant and his Beneficiary is less
than 10 years.
(b) Election of the Ten-Year Certain Option must be
made in writing on a form prescribed by the Plan
Trustees and filed with the Plan Trustees prior to
the date the first pension payment is made.
(c) The Ten-Year Certain Option may be revoked by a
Participant at any time provided that such revoca-
tion must be made in writing on a form prescribed
by the Plan Trustees and filed with the Plan Trust-
ees prior to the effective date of the pension.
Section 3. Partial Lump Sum Payment Option.
Benefits provided by this Section shall not be payable
if payments are due under the 50% Joint and Survivor
Pension.
In lieu of the pension otherwise payable to him a
Participant may elect to receive a Partial Lump Sum
Payment Option whereby he receives a lump sum
payment upon retirement with monthly payments
continuing thereafter in accordance with a 50% Joint
and Survivor Pension, a Five-Year Certain Pension, a
Joint and Survivor Option or a Ten-Year Certain Option,
whichever he elects.
(a) When a Partial Lump Sum Payment Option be-
comes effective the amount of the Participant’s
benefit shall be determined as follows:
(1) The Partial Lump Sum Payment shall be equal
to twelve times the monthly payment the Par-
ticipant would have received on his Annuity
Starting Date under the Five-Year Certain form
of payment.
(2) The Participant’s monthly benefit payable
thereafter shall be reduced to reflect the Partial
Lump Sum Payment described in paragraph
(1) above. The amount of the reduction shall be
equal to the actuarial equivalent of the Partial
Lump Sum Payment based on the Participant’s
age on the Annuity Starting Date and the actu-
arial assumptions outlined in paragraph (3) of
this subsection (a). The Participant may elect
to receive his reduced monthly benefit in any
of the forms of payment provided by the Plan,
subject to all of the requirements applicable to
such forms of payment.
(3) (i) For a Partial Lump Sum Payment option
with an Annuity Starting Date prior to Jan-
uary 1, 2000, the actuarial equivalent of a
nondisability pension shall be determined
on the basis of the 1971 Group Annuity
Mortality Table for Males, blended 60%
with no set back and 40% set back seven
years. The actuarial equivalent of a dis-
ability pension shall be determined on the
basis of 60% of the PBGC Mortality Table
for disabled males receiving Social Secu-
rity benefits and 40% of the PBGC Mortal-
ity Table for disabled females receiving
Social Security benefits. The interest rate
shall be equal to the lesser of 7 percent
per annum or the rate promulgated by the
Pension Benefit Guaranty Corporation,
effective as of January 1 of the calendar
year in which the payment is due to com-
mence, for the valuation of lump sum dis-
tributions in terminated single-employer
pension plans.
(ii) For a Partial Lump Sum Payment Option
with an Annuity Starting Date on or after
January 1, 2000, but before January 1,
2002, the actuarial equivalent shall be
determined on the basis of (A) or (B)
below, whichever produces the greater
monthly benefit under Section 3(a)(2) of
this Article VII:
(A) The actuarial equivalent determined
on the basis set forth in Section 3(a)
(3)(i) above, but using the interest
rate promulgated by the U.S. Pen-
sion Benefit Guaranty Corporation
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f Pe
nsio
n
for lump sum distributions, effective
as of the December 1 preceding the
calendar year that includes the Partici-
pant’s Annuity Starting Date.
(B) The actuarial equivalent determined
on the basis of the mortality table
prescribed by the Secretary of the
Treasury pursuant to Code Section
417(e)(3) that is based on the prevail-
ing commissioners’ standard table
(described in Code Section 807(d)(5)
(A) and Revenue Ruling 95-6, 1995-1
C.B. 80) used to determine reserves
for group annuity contracts issued on
the Annuity Starting Date. The interest
rate shall be equal to the lesser of 7 %
per annum or the annual rate of inter-
est on 30-year Treasury securities as
specified by the Commissioner of the
Internal Revenue Service under Code
Section 417(e)(3) for the month of
November immediately preceding the
Plan Year which contains the Annuity
Starting Date.
(iii) For a Partial Lump Sum Option with an
Annuity Starting Date on or after January
1, 2002, but before January 1, 2008, the
actuarial equivalent shall be determined
on the basis set forth in Section 3(a)(3)(ii)
(B) above.
(iv) For a Partial Lump Sum Payment option
with an Annuity Starting Date on or af-
ter January 1, 2008, but before January
1, 2011 the actuarial equivalent shall be
determined using the mortality table pre-
scribed by the Secretary of the Treasury
pursuant to Code Section 417(e)(3)(B) and
the interest rate prescribed by the Secre-
tary of the Treasury pursuant to Code Sec-
tion 417(e)(3)(C) for the month of Novem-
ber immediately preceding the Plan Year
which contains the Annuity Starting Date.
(v) For an Annuity Starting Date during
2011, the actuarial present value of the
50% Joint and Survivor Pension shall be
determined using the mortality table pre-
scribed by the Secretary of the Treasury
pursuant to Code Section 417(e)(3)(B) and
the interest rate prescribed by the Sec-
retary of the Treasury pursuant to Code
Section 417(e)(3)(C) for August 2010 or
November 2010, whichever is more favor-
able to the participant.
(vi) For an Annuity Starting Date on or after
January 1, 2012, the actuarial present
value of the 50% Joint and Survivor Pen-
sion shall be determined using the mortal-
ity table prescribed by the Secretary of the
Treasury pursuant to Code Section 417(e)
(3)(B) and the interest rate prescribed by
the Secretary of the Treasury pursuant to
Code Section 417(e)(3)(C) for the month
of August immediately preceding the Plan
Year which contains the Annuity Starting
Date.
(b) After a Partial Lump Sum Payment has been made
to a Participant, the amount of the Partial Lump
Sum Payment will not be adjusted and an ad-
ditional Partial Lump Sum Payment will not be
payable under this Section 3. as a result of any
changes made to the Participant’s pension benefit
including but not limited to the receipt of addi-
tional earnings credited either before or after the
Annuity Starting Date.
(c) The Partial Lump Sum Payment Option will not
be available to a Guild Office Participant for the
benefit earned under the Guild Plan if such Guild
Office Participant elected to receive such accrued
benefit under an optional form of payment solely
available under Appendix A.
Pe
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ion
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n
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LE
VII. O
ptio
na
l Fo
rms O
f Pe
nsio
n
Section 4. Pop-Up Option.
(a) Generally. Effective January 1, 1995, this Option
shall be available to unmarried Participants elect-
ing the 100% Joint and Survivor Option, and,
subject to spousal consent as required by Article
IV, Section 6(d), to married Participants whose
benefits are to be paid as a 50% Joint and Sur-
vivor Pension or who are electing to receive the
100% Joint and Survivor Option. Effective January
1, 2008, this Option shall be available to Partici-
pants who are electing to receive the 75% Joint
and Survivor Option, subject to spousal consent
as required by Article IV, Section 6(d). Under the
Pop-Up Option, the Participant will receive a lower
monthly amount during the joint lives of the Par-
ticipant and Spouse or Contingent Annuitant, pro-
vided that if the Spouse or Contingent Annuitant
predeceases the Participant, then, commencing
on the first day of the month following the month
in which such death occurs, the monthly amount
payable to the Participant shall be increased so as
to equal the monthly pension which would have
been payable had the Participant’s benefit been
paid in the form of a 5-year certain and life annuity
at the time the 50% Joint and Survivor Pension or
Joint and Survivor Option was effective. Such in-
creased monthly amount shall be payable for the
lifetime of the Participant, and shall cease upon
the Participant’s death. However, if the Partici-
pant dies before receiving 60 monthly payments
(including all payments received under the 50%
Joint and Survivor Pension or Joint and Survivor
Option), monthly payments in the amount the
Participant was receiving at the time of death will
be made to the designated beneficiary until a total
of 60 payments have been made to the Participant
and beneficiary combined.
(b) Adjustment of Pension Amount.
(1) 50% Joint and Survivor Pension with Pop-Up
Option. When a 50% Joint and Survivor Pen-
sion with the Pop-Up Option becomes effec-
tive, the amount of the Participant’s monthly
pension shall be reduced in accordance with
the following:
(i) For an Annuity Starting Date prior to Feb-
ruary 1, 2006, the pension amount shall
be adjusted as follows:
(A) non-Disability Pensions. If payment
of a pension other than a Disability
Pension is to be made in the form
of a 50% Joint and Survivor Pension
with the Pop-Up Option, the pension
amount shall be adjusted by multiply-
ing it by the following percentage: 90
percent minus .4 percentage points
for each year by which the Spouse
or Contingent Annuitant is younger
than the Participant or plus .4 percent-
age points for each year by which the
Spouse or Contingent Annuitant is
older than the Participant; provided,
however, that in no event shall the
resulting percentage be greater than
100.0 percent.
(B) Disability Pensions. If payment of a
Disability Pension is to be made in
the form of a 50% Joint and Survivor
Pension with the Pop-Up-Option, the
pension amount shall be adjusted by
multiplying it by the following per-
centage: 81.5 percent minus .4 per-
centage points for each year by which
the Spouse or Contingent Annuitant
is younger than the Participant or plus
.4 percentage points for each year by
which the Spouse or Contingent An-
nuitant is older than the Participant;
provided, however, that in no event
shall the resulting percentage be
greater than 100.0 percent.
(ii) For an Annuity Starting Date on or after
February 1, 2006, the pension amount
shall be adjusted by multiplying it by the
actuarial equivalent factor determined
using the mortality table as described in
Section 417(e) of the Internal Revenue
80
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Code and as specified in Revenue Ruling
2001-62, and an interest rate of 6.50%.
However, in no event shall the resulting
amount be less than the pension amount
accrued through January 31, 2006 re-
duced according to the basis set forth in
Section 4(b(1)(i) above.
(2) 100% Joint and Survivor Option with Pop-Up
Option. When a 100% Joint and Survivor Op-
tion with the Pop-Up Option becomes effec-
tive, the amount of the Participant’s monthly
pension shall be reduced in accordance with
the following:
(i) For an Annuity Starting Date prior to Feb-
ruary 1, 2006, the pension amount shall
be adjusted as follows:
(A) non-Disability Pensions. If payment
of a pension other than a Disability
Pension is to be made in the form
of a 100% Joint and Survivor Op-
tion with the Pop-Up Option, the
pension amount shall be adjusted
by multiplying it by the following
percentage: 81.5 percent minus .5
percentage points for each year by
which the Contingent Annuitant is
younger than the Participant or plus
.5 percentage points for each year
by which the Contingent Annuitant is
older than the Participant; provided,
however, that in no event shall the
resulting percentage be greater than
100.0 percent.
(B) Disability Pensions. If payment of a
Disability Pension is to be made in
the form of a 100% Joint and Survivor
Option with the Pop-Up Option, the
pension amount shall be adjusted
by multiplying it by the following
percentage: 66 percent minus .5 per-
centage points for each year by which
the Contingent Annuitant is younger
than the Participant or plus .5 percent-
age points for each year by which the
Contingent Annuitant is older than
the Participant; provided, however,
that in no event shall the resulting
percentage be greater than 100.0 per-
cent.
(ii) For an Annuity Starting Date on or after
February 1, 2006, the pension amount
shall be adjusted by multiplying it by the
actuarial equivalent factor determined
using the mortality table as described in
Section 417(e) of the Internal Revenue
Code and as specified in Revenue Ruling
2001-62, and an interest rate of 6.50%.
However, in no event shall the resulting
amount be less than the pension amount
accrued through January 31, 2006 re-
duced according to the basis set forth in
Section 4(b)(2)(i) above.
(3) 75% Joint and Survivor Option with Pop-Up
Option. When a 75% Joint and Survivor Op-
tion with the Pop-Up Option becomes effec-
tive, the amount of the Participant’s monthly
pension shall be adjusted by multiplying it by
the actuarial equivalent factor determined us-
ing the mortality table as described in Section
417(e) of the Internal Revenue Code and as
specified in Revenue Ruling 2001-62, and an
interest rate of 6.50%.
Pe
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TIC
LE
VIII. A
pp
lica
tion
, Be
ne
fit Pa
ym
en
ts An
d R
etire
me
nt
Section 1. Advance Written Application Re-
quired. An application for a pension shall be made in
writing on a form and in the manner prescribed by the
Plan Trustees, and shall contain such information as
the Plan Trustees may deem necessary. Such applica-
tion shall be a condition for payment of a pension and
must be filed with the Plan Trustees prior to the first
month for which benefits are payable, except that an
application for a Disability Pension shall be considered
timely and benefits shall be effective as of the date
specified in Article III, Section 10, regardless of wheth-
er such application is filed with the Plan Trustees prior
to such effective date.
Where applicable, an application for pension benefits
must include a written statement from the administra-
tor of any qualified pension, profit sharing or stock bo-
nus plan maintained by a Producer under which a ben-
efit has been paid or is payable to a Participant. Such
statement must specify the amount of benefits which
has been or shall be paid to the Participant pursuant to
such other plan or plans.
The Plan Trustees and the Benefits Committee are au-
thorized and empowered to construe the meaning of
any doubtful or ambiguous provisions of the Pension
Plan, and any construction thereof adopted by the Plan
Trustees or the Benefits Committee in good faith shall
be binding upon SAG, the Producers, the Actors and
all beneficiaries. The Plan Trustees and the Benefits
Committee are authorized and empowered generally
to do all things, execute all such agreements, adopt
and promulgate all such reasonable rules and regula-
tions, take all such proceedings and exercise all such
rights and privileges as are necessary in the establish-
ment, maintenance and administration of the Pension
Plan and, specifically, but not limited to, the plan of
pension eligibilities and benefits required thereunder.
Section 2. Information Required. Each Participant
and Pensioner shall furnish to the Plan Trustees any
information or proof requested by them and reason-
ably required to administer the Plan. Failure on the
part of any Participant or Pensioner to comply with
such request promptly and in good faith shall be suf-
ARTICLE VIII. Application, Benefit Payments And Retirement
ficient grounds for denying, suspending or discontinu-
ing pension payments to such person. If a Participant
or Pensioner or other claimant to benefits hereunder
makes a false statement material to his claim of ben-
efits, the Plan Trustees shall recoup, offset or recover
any amount paid to such Participant or Pensioner or
other claimant to which he was not rightfully entitled
under the provisions of this Plan.
Section 3. Notification to Applicant of Decision.
(a) Written notice of the action taken on an applica-
tion for benefits shall be mailed to the applicant
within 90 days (45 days, in the case of a Disability
Pension claim filed on or after January 1, 2002)
after receipt of the claim by the Plan Trustees, un-
less special circumstances require an extension of
the time for processing the application. If such ex-
tension of the time for processing is required, writ-
ten notice of the extension shall be furnished to
the applicant prior to the end of the initial 90-day
period (45-day period, in the case of a Disability
Pension claim filed on or after January 1, 2002). In
no event shall such extension exceed a period of
90 days from the end of such initial period. In the
case of a claim for a Disability Pension claim filed
on or after January 1, 2002, the Plan Trustees may
extend the initial 45-day determination period by
written or electronic notification for up to 30 days
provided that such an extension is necessary due
to matters beyond the control of the plan and may
further extend this period for up to an additional
30 days by notifying the applicant prior to the end
of the first 30-day extension period.
The extension notice shall indicate the special cir-
cumstances requiring an extension of time and the
date by which the Plan Trustees expect to render
the final decision. For Disability Pension claims
filed on or after January 1, 2002, the extension no-
tice shall give the applicant 45 days to provide the
specified information and shall also indicate (1)
the standards on which the entitlement to the Dis-
ability Pension is based, (2) any unresolved issues
causing the delay in the Plan Trustees’ action on
82
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the application for benefits, and (3) the additional
information, if any, required by the Plan Trustees in
order to act on the application for benefits.
(b) If and to the extent that the action constitutes a
denial of the application, the notice shall set forth
in a manner calculated to be understood by the
applicant (1) the specific reason or reasons for
the denial; (2) specific reference to pertinent Plan
provisions on which the denial is based; (3) a de-
scription of any additional material or information
necessary for the applicant to perfect the applica-
tion and an explanation of why such material or
information is necessary; and (4) an explanation of
the Plan’s appeal procedure. For Disability Pension
claims filed on or after January 1, 2002, the notice
of denial shall also set forth the rule, guideline,
protocol or criteria relied on in the denial of the
application, and shall inform the applicant that a
copy of such rule, guideline, protocol or criteria
may be obtained by the applicant from the Plan
Trustees at no cost to the applicant.
Section 4. Appeals.
(a) Any person who is not satisfied with the action
taken on his application for benefits may appeal
to the Plan Trustees for reconsideration of its deci-
sion. An appeal shall be in writing, shall state in
clear and concise terms the reason or reasons
for disagreement with the decision of the Plan
Trustees, and shall be filed with or received by the
Administrative Office within 60 days (180 days, in
the case of a Disability Pension claim filed on or
after January 1, 2002) after the date shown on the
notice to the applicant of the decision of the Plan
Trustees.
(b) Upon good cause shown, the Plan Trustees may
permit the appeal to be amended or supplement-
ed. The failure to file an appeal within the time pe-
riod specified in (a) above shall constitute a waiver
of the applicant’s right to reconsideration of the
decision on the basis of the information and evi-
dence submitted prior to the decision. Such failure
shall not, however, preclude the applicant from
establishing his entitlement at a later date based
on additional information and evidence which was
not available to him at the time of the decision of
the Plan Trustees.
(c) The Plan Trustees shall adopt procedural rules un-
der which a full and fair review of the application
and its denial may be obtained. Such procedure
(i) shall afford the applicant or his duly autho-
rized representative an opportunity to review
the pertinent documents and submit issues and
comments; (ii) may, but shall not be required to,
provide for referral of the appeal to a committee of
the Board of Trustees for review and investigation.
If an appeal is referred to such a committee, the
Board of Trustees may either direct the committee
to make a recommendation to the Board of Trust-
ees for disposition of the appeal or may delegate
to such committee the authority to decide the ap-
peal. If such authority is delegated to the commit-
tee, then the decisions of the committee shall be
deemed to be the decision of the Plan Trustees for
all purposes.
(d) The review of an adverse benefit determination for
a Disability Pension claim filed on or after January
1, 2002 will:
(1) not give deference to the initial adverse ben-
efit determination and will be conducted by a
fiduciary of the Plan who is neither the indi-
vidual who made the initial denial of the claim
nor the subordinate of such individual;
(2) in deciding an appeal of any adverse benefit
determination that is based in whole or in part
on a medical judgment, include consultation
with a health care professional who has ap-
propriate training and experience in the field
of medicine involved in the medical judgment
and who is not the individual who was con-
sulted in connection with the determination
that is the subject of the appeal nor the subor-
dinate of such individual; and
(3) provide for the identification of medical or
vocational experts whose advice was obtained
in connection with the adverse determination,
Pe
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tion
, Be
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ym
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me
nt
without regard to whether the advice was re-
lied upon in making the determination.
(e) A decision on the appeal by the Plan Trustees shall
be made promptly and not later than 60 days after
receipt of the appeal in the form of either (1) a final
decision on the matter, or (2) a statement indicating
that an extension of 60 days is needed to process
the claim. In the case where an extension is need-
ed, the extension notice will indicate the special
circumstances requiring an extension of time and
the date by which the plan expects to render the
determination on the appeal. The applicant shall be
advised of the decision of the Plan Trustee in writ-
ing within five (5) days. The decision shall include
specific reasons for the decision, written in a man-
ner calculated to be understood by the applicant
and specific references to pertinent the Plan provi-
sions on which the decision is based. The decision
shall also include a statement that the applicant
is entitled to receive upon request and at no cost,
copies of all documents, records and other informa-
tion relevant to the claim for benefits. For Disability
Pension claims filed on or after January 1, 2002, the
decision shall also set forth the rule, guideline, pro-
tocol or criteria relied on in the decision.
In the case of a Disability Pension claim filed on
or after January 1, 2002, the decision on the ap-
peal shall be made by the Plan Trustees no later
than the date of the regularly scheduled Trustees
meeting that immediately follows the receipt of
the appeal, unless the appeal is filed within 30
days preceding the date of such meeting, in which
case the decision must be made by no later than
the date of the second Trustees meeting following
the receipt of the appeal. If an extension of time is
needed to process the claim, the applicant shall be
so notified prior to the commencement of the ex-
tension and the decision shall be made by the Plan
Trustees no later than the third Trustees meeting
following the receipt of the appeal.
(f) The decision of the Plan Trustees with respect to
the appeal shall be final and binding upon all pari-
ties, including the applicant and any person claim-
ing under the applicant. The provisions of this Sec-
tion shall apply to and include any and every claim
to benefits from the Fund, and any claim or right
asserted under the Pension Plan or against the
Pension Fund, regardless of the basis asserted for
the claim and regardless of when the act or omis-
sion upon which the claim is based occurred.
(g) No legal action may be commenced or maintained
against the Plan more than ninety (90) days after
the Plan Trustees’ written decision on appeal has
been provided. For purposes of this paragraph, the
Plan Trustees’ written decision on appeal will be
deemed to have been provided on the fifth busi-
ness day following the postmarked date, if mailed,
or the date of delivery if personally delivered or
delivered by facsimile. Written notice of this ninety
(90) day limitations period shall be provided to the
applicant along with the written notification of the
Plan Trustees’ decision on appeal.
Section 5. Pension Payments Generally.
(a) Commencement of Benefits. An eligible Partici-
pant who makes application in accordance with
this Pension Plan shall be entitled upon retirement
to receive the monthly benefits provided for the
remainder of his life, subject, however, to all of the
provisions of this Plan. Pension payments shall
be payable commencing with the first day of the
month following the date on which the Participant
has fulfilled all of the conditions for entitlement to
benefits, including the requirement for advance
application.
However, in no event, unless the Participant elects
otherwise, shall the payment of benefits begin
later than the first of the month following the
month in which the Participant attains Normal
Retirement Age provided, however, that an elec-
tion to defer the commencement of benefits filed
on or after January 1, 1989, may not postpone the
commencement of benefits to a date later than the
Participant’s Required Beginning Date.
84
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(b) Required Beginning Date. Prior to January 1,
1997, a Participant’s Required Beginning Date is
April 1 of the calendar year immediately follow-
ing the calendar year in which the Participant has
attained age 70½, provided that, for a Participant
who attained age 70½ before 1988 other than a
5% owner, the Required Beginning Date is April 1
of the calendar year in which the Participant with-
draws from employment as an Actor in the motion
picture industry or employment as a Plan Office
Participant, if that is later.
Effective January 1, 1997, a Participant’s Required
Beginning Date is April 1 of the calendar year im-
mediately following the calendar year in which the
Participant has attained age 70 ½ , provided that,
for a participant who attains age 70 ½ after Decem-
ber 31, 1995 and is not a 5% owner, the Required
Beginning Date is April 1 of the calendar year fol-
lowing the later of (i) the calendar year in which
the Participant attains 70 ½, or (ii) the calendar
year in which the Participant withdraws from em-
ployment as an Actor in the motion picture indus-
try or employment as a Plan Office Participant. For
Participants whose benefits commence after April
1 of the calendar year following the calendar year
in which the Participant attains age 70 ½, such Par-
ticipant’s benefit amount (including any additional
benefit which is accrued after such date) shall be
actuarially increased for the period between April
1 of the calendar year following the calendar year
in which the Participant attains age 70 ½ (or the
end of the plan year in which any additional ben-
efit is accrued) and the Participant’s benefit com-
mencement date. Such actuarial increase shall be
determined as defined in Section 5(c) below, and
shall be offset to the extent an actuarial increase is
otherwise provided due to delayed retirement.
(c) Delayed Retirement.
Annuity Starting Dates before August 1, 2005.
Effective January 1, 1993, if the Annuity Starting
Date of a Participant’s pension is later than the first
day of the month following the month in which the
Participant attained Normal Retirement Age, the
benefit amount determined under Article III, Sec-
tion 3(a) and (b) or Section 3(c) shall be actuarially
increased for each month the benefits are de-
layed. Notwithstanding the foregoing, the benefit
amount determined under Article III, Section 3(c)
shall not be actuarially increased for any month in
which the Participant’s pension was suspended in
accordance with Article VIII, Section 8(d).
The actuarial increase shall be 1% per month for
the first 60 months after Normal Retirement Age
and 1.5% for each month thereafter.
Annuity Starting Dates on and after August 1,
2005. If the Annuity Starting Date of a Participant’s
pension is later than: (1) the first day of the month
following the month in which the Participant at-
tained age 65, or (2) in the case of a Participant
who becomes eligible for a Vested Pension in ac-
cordance with Article III, Section 6(a)(2), the first
day of the month following the month in which the
Participant satisfies the requirements of Article III,
Section 6(a)(2), the benefit amount determined un-
der Article III, Section 3(a) and (b), or Section 3(c)
shall be actuarially increased for each month the
benefits are delayed. Notwithstanding the forego-
ing, the benefit amount determined under Article
III, Section 3(c) shall not be actuarially increased
for any month in which the Participant’s pension
was suspended in accordance with Article VIII, Sec-
tion 8(d).
The actuarial increase shall be 1% per month for
the first 60 months that benefits are delayed as
described in the preceding paragraph and 1.5% for
each month thereafter.
(d) Termination of Benefits. Pension payments shall
end with the payment for the calendar month in
which the death of the Pensioner occurs except
as provided in accordance with a 50% Joint and
Survivor Pension or an optional form of payment
that provides a benefit to a beneficiary upon the
death of the Pensioner, or, if applicable, upon the
completion of the guaranteed payments provided
for in Article V.
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(e) Distribution Limits. All distributions required
under this Pension Plan shall be determined and
made in accordance with Treasury Regulations is-
sued under Internal Revenue Code Section 401(a)
(9), including the minimum distribution incidental
death benefit requirement of Section 1.401(a)(9)-2
of the Proposed Treasury Regulations. Except as
otherwise provided in Article IV, the requirements
of this paragraph shall apply to any distribution
of a Participant’s interest and will supersede any
inconsistent provisions of the Plan.
(f) Payment of Benefits Accrued After Retirement.
(1) Commencement.
(i) Any additional pension benefit based on
additional Earnings Credit earned prior to
January 1, 1996 by a Pensioner who re-
tired prior to Normal Retirement Age will
be payable as of the Annuity Starting Date
determined without regard to subsection
(d) of Article I, Section 26. Any additional
benefit based on Earnings Credit earned
on or after January 1, 1996 will be payable
in accordance with subsection (ii) below.
(ii) With respect to Early Retirement Pension-
ers who earn additional Earnings Credit
after their initial Annuity Starting Date but
prior to Normal Retirement Age, payment
of any additional benefit based on such
Earnings Credit shall be deferred until the
second Annuity Starting Date set forth
in Article I, Section 26, et. seq., and the
Pension Credits as of the second Annuity
Starting Date will be used to determine
the maximum pension under Article III,
Section 3(b)(3). With respect to all other
Pensioner, payment of any additional
benefit will be determined at the end of
each Calendar Year and will be payable as
of January 1 following the end of the Cal-
endar Year in which it accrued. For such
Pensioners, the Pension Credits as of the
end of such Calendar Year will be used to
determine the maximum pension under
Article III, Section 3(b)(3).
(iii) Notwithstanding the foregoing, in the
event an Early Retirement Pensioner dies
after returning to covered employment
but prior to the second Annuity Starting
Date, any additional benefit earned dur-
ing the period of reemployment shall be
calculated and paid as a pre-retirement
death benefit in accordance with Ar-
ticle IV, Section 4, or Article V, Section 1,
whichever is applicable, except that the
minimum benefit described in Article V,
Section 1(a) shall not apply. The Annuity
Starting Date for such additional benefit
payable in accordance with Article IV, Sec-
tion 4 shall be determine in accordance
with Article I, Section 26(c) without regard
for subsection (d).
(2) Elections.
(i) In all cases, the benefit payment elections
made at the time of the initial Annuity
Starting Date shall govern with respect to
all benefits accrued prior to such Annu-
ity Starting Date and the benefit payment
elections made at the time of the second
Annuity Starting Date (if applicable) shall
govern with respect to all benefits ac-
crued subsequent to the second Annuity
Starting Date.
(ii) In the case of a Participant whose initial
Annuity Starting Date occurred on or after
Normal Retirement Age, the benefit pay-
ment elections made on the initial Annuity
Starting Date will apply to any additional
Earnings Credit earned after such Annuity
Starting Date.
(3) Form of Payment. In the case of a Participant
who retired before Normal Retirement Age
and is entitled to an adjusted pension in ac-
cordance with Section 10(c) of this Article,
payment of any additional benefit will be paid
in accordance with the following:
(i) Unmarried Participants. If the Participant
is not married on the second Annuity
Starting Date, the benefits earned during
the period(s) of reemployment will be
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paid as a Five-Year Certain and Life An-
nuity as of the second Annuity Starting
Date, or, if that is properly rejected, the
payment form elected on the Participant’s
first Annuity Starting Date.
(ii) Married Participants. If the Participant
elected the 50% Joint and Survivor Pen-
sion on the first Annuity Starting Date
and is married on the second Annuity
Starting Date, the benefits earned during
the period(s) of reemployment will be
paid as a 50% Joint and Survivor Pension
as of the second Annuity Starting Date,
or, if that is properly rejected, a Five-Year
Certain and Life Annuity.
If the Participant elected a form of pay-
ment other than the 50% Joint and Survi-
vor Pension on the first Annuity Starting
Date and is married on the second Annu-
ity Starting Date, the benefits earned dur-
ing the period(s) of reemployment will be
paid as a 50% Joint and Survivor Pension
as of the second Annuity Starting Date, or,
if that is properly rejected, the payment
form elected on the Participant’s first An-
nuity Starting Date.
Section 6. Duplication of Pensions. A Pensioner
shall not be entitled to the payment under this Plan of
more than one type of pension at any one time except
as otherwise provided in Appendix A.
Section 7. Lump Sum Payment in Lieu of
Monthly Pension. If the actuarial value of a Partici-
pant’s lifetime pension is $1,000 or less at the time his
monthly pension is payable, (or $5,000 or less if the
distribution is prior to March 28, 2005), the Trustees
shall pay him the lump sum amount of such actuarial
value, instead of the monthly pension otherwise due
to him. Effective March 28, 2005, if the actuarial value
of his lifetime pension is $5,000 or less but more than
$1,000, the Participant may elect to receive a lump
sum payment in lieu of the monthly pension.
Nothwithstanding the foregoing, if a Participant has
started to receive payments in the form of a 50% Joint
and Survivor Pension, the surviving legal spouse shall
receive monthly benefits after the Participant’s death,
unless the surviving legal spouse consents, in writing,
in a form prescribed by the Trustees, to a lump sum
payment. Further, with respect to an Alternate Payee,
or the surviving legal spouse in the case of a pre-re-
tirement death, if the actuarial value is $5,000 or less,
the Trustees shall pay the Alternate Payee or surviving
legal spouse the lump sum amount of such actuarial
value, instead of the monthly pension due to him.
The amount of such lump sum payment shall be deter-
mined using the following actuarial assumptions:
(a) For purposes of determining the present value of
a lump sum distribution for distributions occurring
prior to January 1, 2000, the amount of the lump
sum payment shall be determined using the fol-
lowing mortality table and interest rate:
(i) Mortality Table: The 1971 Group Annuity Mor-
tality Table for Males, blended 60% with no
set back and 40% set back seven years for
Participants, and the 1971 Group Annuity
Mortality Table for Males, blended 60% set
back seven years and 40% with no set back
for beneficiaries.
(ii) Interest Rate: The lesser of (A) 7% per annum
or (B) the interest rate that would be used,
as of January 1, of the Calendar Year that in-
cludes the Participant’s Annuity Starting Date,
by the Pension Benefit Guaranty Corporation
for purposes of determining the lump sum
distribution of such benefit as if the Plan were
then terminated.
(b) For purposes of determining the present value of
a lump sum distribution for distributions occurring
on or after January 1, 2000, but before January 1,
2008, the amount of the lump sum payment shall
be determined using the following mortality table
and interest rate:
(i) Mortality Table: The table prescribed by the
Secretary of the Treasury pursuant to Code
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Section 417(e)(3) that is based on the prevail-
ing commissioners’ standard table (described
in Code Section 807(d)(5)(A) and Rev. Rul. 95-
6, 1995-1 C.B. 80) used to determine reserves
for group annuity contracts issued on the date
of distribution.
(ii) Interest Rate: The lesser of (A) 7% per annum
or (B) the annual rate of interest on 30 year
Treasury securities as specified by the Com-
missioner of the Internal Revenue Service
under Code Section 417(e)(3) for the month
of November immediately preceding the Plan
Year which contains the Annuity Starting Date.
(c) For purposes of determining the present value of
a lump sum distribution for distributions occurring
on or after January 1, 2008, but before January 1,
2011, the amount of the lump sum payment shall
be determined using the following mortality table
and interest rate:
(i) Mortality Table: The table prescribed by the
Secretary of the Treasury pursuant to Code
Section 417(e)(3)(B).
(ii) Interest Rate: The table prescribed by the Sec-
retary of the Treasury pursuant to Code Sec-
tion 417(e)(3)(C) for the month of November
immediately preceding the Plan Year which
contains the Annuity Starting Date.
(d) For purposes of determining the present value of
a lump sum distribution for distributions occurring
during 2011, the amount of the lump sum payment
shall be determined using the following mortality
table and interest rate:
(i) Mortality Table: The table prescribed by the
Secretary of the Treasury pursuant to Code
Section 417(e)(3)(B).
(ii) Interest Rate: The table prescribed by the
Secretary of the Treasury pursuant to Code
Section 417(e)(3)(C) for August 2010 or No-
vember 2010, whichever is more favorable to
the participant.
(e) For purposes of determining the present value of
a lump sum distribution for distributions occur-
ring on or after January 1, 2012, the amount of the
lump sum payment shall be determined using the
following mortality table and interest rate:
(i) Mortality Table: The table prescribed by the
Secretary of the Treasury pursuant to Code
Section 417(e)(3)(B).
(ii) Interest Rate: The table prescribed by the
Secretary of the Treasury pursuant to Code
Section 417(e)(3)(C) for the month of August
immediately preceding the Plan Year which
contains the Annuity Starting Date.
Section 8. Retirement.
(a) Before Age 65. To be considered retired and entitled
to a pension under this Plan before age 65, a Partic-
ipant who first retires on an Early Retirement Pen-
sion prior to January 1, 1999 must withdraw and re-
frain from employment (other than employment as
a stunt coordinator for Participants who retired pri-
or to August 14, 1994) for which sessional earnings
are reported to the Plan in a calendar month which
equal or exceed the minimum amount required to
earn a year of Pension Credit under Article VI, Sec-
tion 2(c), in the same industry, in the same trade or
craft, and in the same geographic area covered by
the Plan. To be considered retired and entitled to a
pension under this Plan before age 65, a Participant
who first retires on an Early Retirement Pension on
or after January 1, 1999 must withdraw and refrain
from employment for which sessional earnings
are reported to the Plan in a calendar month which
equal or exceed the equivalent of 7 days multiplied
by the minimum day player rate in effect for that
month, rounded up to the next $100, in the same
industry, in the same trade or craft, and in the same
geographic area covered by the Plan. For the pur-
poses of this Subsection:
(1) The same “industry” means any business ac-
tivity of any employer, including self-employ-
ment, that includes the type of employment
covered by the Plan at the time of retirement
or reemployment after retirement.
(2) The “same trade or craft” means an occupa-
tion in the type of employment covered by
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the Plan at the time of retirement or reem-
ployment after retirement, any occupation
utilizing the same skill(s), and any self-em-
ployment or supervisory employment related
to the same skill(s) as were involved in such
occupation(s).
(3) The “same geographic area” means the Unit-
ed States.
(4) The “minimum annual Earnings Credit”
means the minimum amount of Earnings
Credit required under Article VI, Section 2(c) to
earn a year of Current Service Credit.
(5) “Sessional earnings” means the compensa-
tion payable by a Producer for an Actor’s em-
ployment in the production of photography or
sound track for a Motion Picture.
(6) “Day player rate” means the minimum com-
pensation payable to an Actor pursuant to the
terms of the TV and Theatrical Agreement (the
Producer-Screen Actors Guild Codified Basic
Agreement) in effect for that month.
(b) After Age 65. Once a Pensioner attains age 65, he
may be employed in any capacity and be consid-
ered retired and entitled to a pension under this
Plan.
(c) Interpretation of Overlapping Employment. If a
Pensioner is employed in a job category covered
by both the SAG Collective Bargaining Agreement
and the AFTRA Collective Bargaining Agreement,
and the employment is under the AFTRA Collec-
tive Bargaining Agreement, then the employment
shall not be deemed to come within clause (2) of
the paragraph (a) of this Section 8.
(d) Plan Office Participant and Guild Office Partici-
pant. Notwithstanding any other provision of this
Section 8, to be considered retired and entitled
to a pension under this Plan, a Participant who is
younger than age 65 and is either a Plan Office
Participant or a Guild Office Participant must re-
sign from employment with the Plan or the Guild
and must thereafter refrain from employment with
the Plan Office or Guild Office in excess of 7 work
days in a calendar month. Post-retirement employ-
ment up to and including 7 work days in a calen-
dar month with the Plan or Guild or any amount
of employment with any other employer shall
not cause a suspension of pension payments. For
this purpose, a “work day” means the number of
hours that the Plan Office or Guild Office expects
its employees to work in a day during the relevant
calendar month.
Section 9. Suspension of Benefits.
(a) If a Pensioner who is younger than age 65 ceases
to be retired as described in Section 8 above, his
pension payments shall be suspended for any
calendar month in which he is so employed. After
that period, his pension shall again become pay-
able, as provided in Section 10 of this Article. On
and after January 1, 1999, at the end of each Cal-
endar Year, any Participant who has his benefits
suspended for any months during such Calendar
Year as a result of sessional earnings (as defined
in Section 8 (a)) during each of such months equal
to or in excess of the equivalent of 7 days multi-
plied by the minimum day player rate (as defined
in Section 8 (a)) in effect for such month under the
TV and Theatrical Agreement (the Producer-Screen
Actors Guild Codified Basic Agreement), rounded
up to the next $100, but who fails to earn the
minimum annual Earnings Credit (as defined in
Section 8(a)) during such Calendar Year, shall have
such suspended benefits refunded to him.
(b) If a Pensioner who is younger than age 65 be-
comes employed in work of the type described in
Section 8 of this Article, he must notify the Trust-
ees, in writing, within 15 days following the com-
mencement of such employment.
(c) A Pensioner shall provide the Trustees with such
information as they may request in order to estab-
lish the nature and extent of any employment by
the Pensioner after the date of commencement of
his benefits. In addition, at least once each year
a Pensioner shall be required to certify on a form
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acceptable to the Trustees that he is retired within
the meaning of the Plan. Any pension payments
otherwise due shall be withheld pending adequate
response by the Pensioner to such request.
(d) A Participant whose pension has been suspended
shall advise the Trustees in writing when disquali-
fying employment has ended. Benefit payments
shall be held back until such notice is filed with the
Trustees.
(e) A Participant may, in writing, request of the Trust-
ees a determination whether contemplated em-
ployment will be disqualifying, and the Trustees
shall provide the Participant with their determina-
tion within a reasonable amount of time.
(f) Notice of Suspension. The Trustees shall inform
a Participant of any suspension of benefits by
notice given by personal delivery or first class
mail during the first calendar month in which his
benefits are withheld. Such notice shall include
a description of the specific reasons for the sus-
pension, a description and a copy of the relevant
plan provisions, reference of the applicable regu-
lations of the U.S. Department of Labor, and a
statement of the procedure for securing a review
of the suspension.
(g) Review. A Participant shall be entitled to a review
of a determination suspending his benefits by
written request filed with the Trustees within 60
days of the notice of suspension of benefits. The
same right of review shall apply, under the same
terms, to a determination by or on behalf of the
Trustees that contemplated employment will be
disqualifying.
Section 10. Pension Payment Following
Suspension.
(a) Pension payments to a Pensioner, who has ended
his disqualifying employment, shall be resumed
beginning no later than the third month after the
last calendar month for which his benefit was
suspended, provided the Participant has complied
with the notification requirements of this Plan.
(b) A Pensioner who returns to employment covered
by the Plan after Normal Retirement Age, or a
Plan Office Participant or Guild Office Participant
who retires on a Service Pension and returns to
covered employment at any age, or a Disability
Pensioner shall be entitled to additional Earnings
Credit for any earnings, including residuals and/
or deferred payments, received after retirement.
For benefits earned on and after January 1, 1992, a
Pensioner shall be entitled to receive an adjusted
pension for such additional Earnings Credit pro-
vided he is entitled to a year of Current Service
Credit for the Calendar Year in which such earnings
were accrued. Effective January 1, 1996, payment
of any additional pension benefits based on ad-
ditional Earnings Credit shall be deferred in accor-
dance with Section 5(f)(1)(ii) of this Article VIII.
(c) An Early Retirement Pensioner who returns to
employment covered by the Plan before Normal
Retirement Age for a sufficient period to cause a
suspension of benefits in accordance with Sec-
tion 9(a) of this Article shall be entitled to receive
an adjusted pension, as follows: Prior to January
1, 1999, the additional benefit shall be calculated
in accordance with Article III, Section 3(a)(2) (as
in effect on the Pensioner’s second Annuity Start-
ing Date) using only the earnings (sessions and
residuals) and Pension Credit earned during the
months of suspension. On and after January 1,
1999, the additional benefit shall be calculated in
accordance with Article III, Section 3(a)(2) (as in
effect on the Pensioner’s second Annuity Starting
Date) using the earnings (sessions and residuals)
and Pension Credit earned during the Calendar
Year in which the benefit was suspended, and sub-
sequent to the Pensioner’s initial Annuity Starting
Date. There is no reduction for age.
(d) If a Participant received pension payment to which
he was not entitled in accordance with Section 9 of
this Article, the Trustees may recover the amount
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of such payments by deducting the amount of the
overpayments from the Participant’s future month-
ly payments until such overpayment is fully recov-
ered. If a Participant has attained Normal Retire-
ment Age, the amount of such offset shall be lim-
ited to 100% of the amount due to the Participant
for the first payment upon resumption of benefits
and 20% of the monthly pension benefit thereafter,
until all overpayments are fully recovered.
This provision shall not limit the right of the Trust-
ees to recover an overpayment by means other
than deduction from the pension.
(e) A Disability Pensioner who recovers from his total
disability and returns to employment covered by
the Plan shall be entitled, upon his subsequent re-
tirement, to a pension in an amount calculated at
the amount payable under the applicable provision
of Article III at the time of his subsequent retirement,
including any additional Earnings Credit earned dur-
ing his period of subsequent employment.
Section 11. Nonforfeitability and Vested Status.
A pension benefit to which a Participant is entitled
under this Plan upon his attainment of Normal Re-
tirement Age is nonforfeitable subject, however, to
retroactive amendment made within the limitations
of Section 411(a)(3)(C) of the Internal Revenue Code
and Section 302(c)(8) of ERISA. The benefits to which
a surviving spouse is entitled shall likewise be nonfor-
feitable. Participants and Beneficiaries shall be entitled
to any of the other benefits of this Plan subject to all of
the applicable terms and conditions.
A Participant attains vested status when he has fulfilled
service requirements for receipt after Normal Retire-
ment Age and retirement of a nonforfeitable pension.
Section 12. Incompetence, Incapacity or
Minority of a Pensioner.
(a) In the event that it is determined to the satisfaction
of the Plan Trustees that a Pensioner is unable to
care for his affairs because of mental or physical
incapacity, any payment due may be applied in the
discretion of the Plan Trustees to the maintenance
and support of such Pensioner in the manner de-
cided by the Plan Trustees (except that no payment
shall be made to a governmental institution or fa-
cility if the Pensioner is not legally required to pay
for his care and maintenance), unless prior to such
payment, claim shall have been made for such
payment by a legally appointed guardian, commit-
tee or other legally appointed representative.
(b) In the event that a Plan distribution is to be made
to a minor, the Plan Trustees may in their discre-
tion direct the payment of such distribution to the
legal guardian of the minor (or, if none, to a parent
of the minor, a responsible adult with whom the
minor resides, or the custodian for the minor un-
der the Uniform Gift to Minors Act, if permitted by
state law). Such payment will discharge the Plan
Trustees and the Plan from further liability with
respect thereto.
Section 13. Non-Assignment of Benefit. Each
Participant or Pensioner under the Pension Plan is
hereby restrained from selling, transferring, anticipat-
ing, assigning, hypothecating or otherwise disposing
of his Pension, prospective Pension, Death Benefits,
or any other rights or interests under the Plan, and
the Plan Trustees shall not recognize, or be required
to recognize, any such sale, transfer, anticipation, as-
signment, hypothecation or other disposition. Any
such prospective Pension, Death Benefit, right or in-
terest shall not be subject in any manner to voluntary
transfer or transfer by operation of law or otherwise,
and shall be exempt from the claims of creditors or
other claimants and from all orders, decrees, garnish-
ments, executions or other legal or equitable process
or proceedings to the fullest extent permissible by law.
Notwithstanding the foregoing, benefits shall be paid
in accordance with the applicable requirements of any
“qualified domestic relations order” as defined by Sec-
tion 206(d)(3) of ERISA.
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Section 14. Trust Assets. Neither any Producer,
SAG, any Participant nor any Pensioner under the Plan
nor any other person shall have any right, title or inter-
est in or to the Pension Fund other than as specifically
provided in the Trust Agreement or in the Plan. Neither
the Pension Fund nor any contributions to the Pension
Fund shall be in any manner liable for or subject to the
debts, contracts or liabilities of any Producer, SAG, any
Participant nor any Pensioner.
Section 15. No Right to Assets. No person other
than the Trustees of the Pension Fund shall have any
right, title or interest in any of the income, or property
of any funds received or held by or for the account of
the Pension Fund, and no person shall have any vested
right to benefits provided by the Pension Plan except
as expressly provided herein.
Section 16. Maximum Limitations.
(a) General Rule.
(1) Except as provided in subsection (c), and not-
withstanding any other provision of this Plan,
the annual accrued benefit shall not exceed
the lesser of:
(A) $160,000
(B) 100% of the Participant’s average annual
compensation during the three highest
consecutive calendar years of participa-
tion. For purposes of this paragraph, the
term “compensation” means compensa-
tion within the meaning of Internal Rev-
enue Code §415(c)(3) and regulations and
rulings thereunder.
(2) This limit shall not apply to any benefits pay-
able in a year and attributable to the Employer
that do not exceed $1,000 a year for each
calendar year in which the participant earns a
Pension Credit with Employer, up to a maxi-
mum of $10,000. This subsection (2) shall not
apply if the Participant has also been covered
by an individual account plan to which the
Employer contributed on his behalf, and such
plan was maintained as a result of collective
bargaining involving the same employee rep-
resentative as this Plan.
(3) (A) The $160,000 limit in subsection (a)(1)(A)
is increased annually in accordance
with IRS rulings and regulations under
Code§415 (d).
(B) Benefit payments that are limited by this
Section shall be increased annually to the
level permitted by the limitations of this
Section as adjusted for later years in ac-
cordance with this subsection, but in no
event to a level higher than the benefits
attributable to Pension Credits earned by
the Participant.
(4) The benefit under this Plan considered as
payable with respect to a Participant and an
Employer shall equal the excess of the benefit
over the benefit computed as if the Participant
had no covered service with the Employer,
which shall be determined by multiplying the
Participant’s total benefit by the ratio of cov-
ered service with the Employer to total cov-
ered service.
(b) Adjustment of Dollar Limit for Early or Late
Retirement.
(1) If a Participant’s benefit payments begin prior
to age 62, the dollar limit under subsection (a)
(1)(A) is reduced to the Actuarial Equivalent of
the benefit payable at age 62.
(2) If a Participant’s benefit payments begin after
age 65, the dollar limit under subsection (a)(1)
(A) is increased to the Actuarial Equivalent of
the dollar limit otherwise payable at age 65.
(3) For purposes of this Section 16(b), the Actuar-
ial Equivalent shall be based on the following
actuarial assumptions:
(A) For distributions occurring before January
1, 2000, the Actuarial Equivalent is based
on a 5 percent interest assumption and
the 1983 Group Annuity Mortality Table for
Males.
(B) For distributions occurring on or after
January 1, 2000, the Actuarial Equivalent
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is based on a 5 percent interest assump-
tion and the mortality table prescribed by
the Secretary of the Treasury that is based
on prevailing commissioners’ standard
table (described in Code Section 807(d)(5)
(A)) used to determine reserves for group
annuity contracts issued on the date of
distribution, that is prescribed by the
Commissioner in revenue rulings, notices,
or other guidance published in the Inter-
nal Revenue Bulletin.
(4) For purposes of Section 16(b)(2), the Actu-
arial Equivalent shall be based on a 5 percent
interest assumption, with no adjustment for
mortality.
(c) Adjustment for Optional Payment Form.
(1) The dollar limitation in subsection (a)(1)(A) (as
otherwise modified under this Section) is re-
duced by the Actuarial Equivalent of payments
that will be made after the Participant’s death
under Article V, Section 1. If the Participant’s
accrued benefit is paid in an alternate payment
form other than a 50% Joint and Survivor Pen-
sion the limitation as so reduced is applied to
the accrued benefit before it is converted to the
alternative payment form, so that the amount
payable under the payment form selected will
be the Actuarial Equivalent of the amount de-
termined under the preceding sentence.
(2) For purposes of this Section 16(c), the Actuari-
al Equivalent shall be determined as follows:
(A) For distributions occurring before Janu-
ary 1, 2000, the Actuarial Equivalent is
based on a 5 percent interest assumption
and the 1983 Group Annuity Mortality
Table blended 80% Male and 20% Female.
(B) For distributions occurring on or after
January 1, 2000, and before January 1,
2008, the Actuarial Equivalent is based on
a 5 percent interest assumption and the
table prescribed by the Secretary of the
Treasury that is based on the prevailing
commissioners’ standard table (described
in Code Section 807(d)(5)(A)) used to de-
termine reserves for group annuity con-
tracts issued on the date of distribution,
that is prescribed by the Commissioner
in revenue rulings, notices, or other guid-
ance published in the Internal Revenue
Bulletin. Solely for the purpose of distri-
butions occurring in 2004 and 2005, “5
percent interest” shall be replaced by
“5.5 percent interest” in the preceding
sentence with respect to an optional form
of payment that is subject to Internal Rev-
enue Code Section 417(e)(3).
(C) For distributions occurring on or after Janu-
ary 1, 2008, the Actuarial Equivalent for an
optional payment form that is not subject to
Internal Revenue Code Section 417(e)(3) shall
be the same as described in subsection (c)(2)
(B) above. For optional forms of payment that
are subject to Internal Revenue Code Section
417(e)(3), the Actuarial Equivalent shall be the
greater of (i) the amount based on 5.5 percent
interest and the mortality table described in
subsection (c)(2)(B) or (ii) the amount based
on the applicable interest rate for the distribu-
tion under Internal Revenue Code regulation
1.417(e)-1(d)(3) and the mortality table de-
scribed in subsection (c)(2)(B), divided by 1.05.
(d) Plan Aggregation.
(1) In applying the limits of this Section, the ben-
efits of all other defined benefit retirement
plans sponsored by the Employer shall be
taken into consideration, except for multiem-
ployer plans.
(2) Except as noted in subsection (1), all defined
benefit plans sponsored by the Employer
are treated as a single plan. Benefits payable
under any other such plan with respect to a
Participant shall be reduced to the extent pos-
sible before any reduction will be made in his
benefits payable under this plan, if necessary,
to observe these limits.
(e) Phase-In Over Years of Participation. If a Participant
has fewer than 10 years of participation in this
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Plan, the dollar limitation in subsection (a)(1)(A)
shall be multiplied by a fraction, the numerator of
which is the Participant’s total years and fractional
years of participation in this Plan and the denomi-
nator of which is 10. The limitation thus obtained
shall not be less than 10% of the dollar limitation.
(f) Limitation Year. The annual limits of this Section
shall be applied on a calendar year basis.
(g) Interpretation or Definition of other Terms. The
term “Employer” and other terms used in this Sec-
tion that are not otherwise expressly defined in
the Plan, shall be defined, interpreted and applied
as prescribed in Code §415 and regulations and
rulings thereunder.
Section 17. Mergers. This Pension Plan may not
merge or consolidate with, or transfer its assets or li-
abilities to, any other plan unless each Participant in
the Plan would (if the Plan then terminated) receive a
benefit immediately after the merger, consolidation, or
transfer which is equal to or greater than the benefit he
would have been entitled to receive immediately be-
fore the merger, consolidation, or transfer (if the Plan
had then terminated). This Section shall apply only to
the extent determined by the Pension Benefit Guaranty
Corporation.
Section 18. Compensation Limit.
(a) Between January 1, 1989 and January 1, 1997. In
addition to any other applicable limitations which
may be set forth in the Plan and notwithstand-
ing any other contrary provisions of the Plan, the
amount of a Participant’s compensation from any
single Employer that may be taken into account
under the Plan shall not exceed the $200,000 limit
as set forth in Section 401(a)(17) of the Code, ad-
justed for changes in the cost of living as provided
in section 415(d) of the Code.
(b) On and After January 1, 1997. In addition to other
applicable limitations set forth in the Plan, and not
withstanding any other provision of the Plan to the
contrary, for Plan Years beginning on or after Janu-
ary 1, 1997, the amount of a Participant’s annual
compensation from any single Employer that may
be taken into account under the Plan shall not ex-
ceed the OBRA’93 annual compensation limit. The
OBRA’93 annual compensation limit is $150,000,
as adjusted by the Commissioner for increases in
the cost of living in accordance with Section 401(a)
(17)(B) of the Internal Revenue Code. The cost-of-
living adjustment in effect for a calendar year ap-
plies to any period, not exceeding 12 months, over
which compensation is determined (determination
period) beginning in such calendar year. If a deter-
mination period consists of fewer than 12 months,
the OBRA’93 annual compensation limit will be
multiplied by a fraction, the numerator of which
is the number of months in the determination pe-
riod, and the denominator of which is 12.
For Plan Years beginning on or after January 1,
1997, any reference in this Plan to the limitation
under Section 401(a)(17) of the Code shall mean
the OBRA’93 annual compensation limit set forth
in this provision.
(c) Notwithstanding any other provision of the Plan,
effective as of January 1, 1997, the accrued benefit
determined under Article III, Sections 3(a)(2)(ii)
and 3(b)(2)(ii) of any Participant whose compensa-
tion from any single Employer exceeded $150,000
in any Calendar Year beginning before January
1, 1997 shall be the greater of (i) the Participant’s
accrued benefit, determined under Article III, Sec-
tions 3(a)(2)(ii) and 3(b)(2)(ii), taking into account
all years of service before and after January 1,
1997, and applying the OBRA’93 annual compen-
sation limit to each year, and (ii) the Participant’s
accrued benefit calculated pursuant to the method
described below:
Step 1: Calculate the Participant’s accrued ben-
efit as of December 31, 1996, determined
under Article III, Sections 3(a)(2)(ii) and
3(b)(2)(ii) as though the Participant had
terminated employment on that date and
without regard to any Plan amendments
adopted after that date (but taking into
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account remedial amendments that apply
retroactively before that date under Code
§ 401(b)).
Step 2: Calculate the OBRA’93 compensation ad-
justment fraction, the numerator of which
is the Participant’s average compensation
determined for the current Calendar Year
(as limited by Code §401(a)(17)), using the
definition and compensation formula in
effect as of December 31, 1996, and the
denominator of which is the Participant’s
average compensation as of December
31, 1996, using the definition and com-
pensation formula in effect as of that date.
If the OBRA ‘93 compensation adjust-
ment fraction is greater than 1, adjust the
amount in Step 1 by multiplying it by this
fraction. If the OBRA’93 compensation ad-
justment fraction is less than or equal to
1, do not change the amount determined
in Step 1.
Step 3: Calculate the amount of the Participant’s
benefit accrued on and after January 1,
1997, determined under Article III, Sections
3(a)(2)(ii) and 3(b)(2)(ii), taking into ac-
count only years of service after Decem-
ber 31, 1996.
Step 4: Add the amounts determined in Step 2
and Step 3.
(d) Benefit Payments On and After January 1, 2002.
(1) For any pension benefit payments made on
or after January 1, 2002, the accrued benefit
determined under Article III, Sections 3(a)(2)(ii)
and 3(b)(2)(ii) of any Participant whose com-
pensation from any single Employer exceeds
$150,000 in any Calendar Year beginning after
December 31, 1996, shall be determined by
applying an annual compensation limit of
$200,000, as set forth in Section 401(a)(17) of
the Code, for each such year. For this purpose,
the numerator described in Step 2 of Section
18 (c) above and the accrued benefit earned
on and after January 1, 1997 described in Step
3 of Section 18(c) above shall be calculated
by taking into account in the $200,000 annual
compensation limit.
(2) For any pension benefit payments made on or
after January 1, 2002, the annual compensa-
tion taken into account for determining the
annual benefit accrued for each of Current
Service Credit earned after December 31, 2001
under Article III, Sections 3(a)(2)(i) and 3(b)
(2)(i) shall not exceed $200,00, as set forth in
Section 401(a)(17) of the Code.
(3) The $200,000 limit on annual compensation
described in paragraphs (1) and (2) shall be
adjusted for cost-of living increases in accor-
dance with Section 401(a)(17)(B) of the Code.
The cost-of living adjustment in effect for a
calendar year applies to any period, not ex-
ceeding 12 months, over which compensation
is determined (determination period) begin-
ning in such calendar year. If a determination
period consists of fewer than 12 months, the
annual compensation limit will be multiplied
by a fraction, the numerator of which is the
number of months in the determination pe-
riod, and the denominator of which is 12.
(e) The compensation limits described in this Section
shall be applied on an Employer-by-Employer ba-
sis.
(f) For purposes of this Section, the term “compensa-
tion” means, wages salaries, and fees for profes-
sional services and other amounts received from
the Employer during the Limitation Year (without
regard to whether or not an amount is paid in
cash) for personal services actually rendered in
the course of employment with the Employer, to
the extent such amounts are includible in gross
income, including, but not limited to, overtime
pay, tips, bonuses, commissions to paid sales-
men, compensation for services on the basis of a
percentage of profits, commissions on insurance
premiums, fringe benefits, employee elective de-
ferrals under Internal Revenue Code §415(c)(3)(D),
amounts included in compensation under Internal
Revenue Code §457(a) and expense allowances,
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and excluding the amounts contributed by the
Employer on behalf of the Employee pursuant to
a salary deferral agreement under this Plan or any
other cash or deferred arrangement described in
Internal Revenue Code §402(g)(3), to any salary
reduction agreement pursuant to a cafeteria plan
established under Internal Revenue Code §125, or
to any other plan of deferred compensation, and
which are not includible in the Employee’s gross
income for the taxable year in which contributed,
or any distributions from a plan of deferred com-
pensation.
For purposes of applying the limitations of this
Section, the term “compensation” means the
compensation actually paid or includible in the
Employee’s gross income for the Limitation Year.
Compensation shall also include amounts de-
ferred under Internal Revenue Code §125, 401(k)
and 403(b), and any elective amounts that are not
includible in the gross income of the Employee by
reason of Internal Revenue Code §132(f)(4).
For purposes of determining compensation,
amounts included pursuant to Internal Revenue
Code §125 shall include amounts not available
to an Employee in cash in lieu of group health
coverage because the Employee is unable to cer-
tify that he or she has other health coverage. An
amount will be treated as an amount under Inter-
nal Revenue Code §125 only if the Employer does
not request or collect information regarding the
Employee’s other health coverage as part of the
enrollment process for the health plan.
Section 19. Qualified Domestic Relations Order.
(a) Benefits which become payable in accordance
with a Qualified Domestic Relations Order (QDRO)
as defined by Section 206(d)(3) of ERISA, must be
paid in one of the following forms of payment. If
the form of payment is not specified in the QDRO,
the Alternate Payee may elect, in writing on a form
acceptable to the Trustees, to receive payment in
one of the following forms:
(1) Monthly payments in the amount specified by
the QDRO payable for the duration of the Par-
ticipant’s lifetime, with 60 monthly payments
guaranteed;
(2) Monthly payments in any optional form de-
scribed in Article VII, or in Appendix A as ap-
plicable to Guild Office Participants, based on
the life of the Participant. The monthly pay-
ment amount shall be the amount specified
in the QDRO, reduced as provided in Article
VII, or Appendix A if applicable, for the option
elected; or
(3) Monthly payments payable for the duration of
the Alternate Payee’s lifetime, with 60 monthly
payments guaranteed or 120 monthly pay-
ments guaranteed (Ten-Year Certain Option).
The monthly payment amount specified by
the QDRO shall be the actuarial equivalent
based on the ages of the Participant and Alter-
nate Payee on the date payments are to com-
mence.
Election or revocation may not be made or altered
after payment of the pension has commenced. If
the Alternate Payee fails to elect the form of bene-
fits, benefit payments shall be made in accordance
with paragraph (a)(1) of this Section 19.
(b) If specified in the QDRO, the Alternate Payee may
elect to receive benefits commencing at a date
on or after the earliest date the Participant could
begin receiving benefits. In the event the Alternate
Payee receives benefits commencing prior to the
commencement of benefits for the Participant, the
amount of benefit payable to the Alternate Payee
shall be equal to the Alternate Payee’s share as
specified in the QDRO of the Participant’s Regular
Pension amount, reduced by 1/2 of 1% for each
month by which the Participant is younger than 65
when the Alternate Payee’s benefits commence.
(c) For purposes of this section, for benefit payments
commencing prior to January 1, 2001, the term
“actuarial equivalent” means of equal actuarial
value using the 1983 Group Annuity Mortality
Tables blended 80% male and 20% female for the
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Participant and 20% male and 80% female for the
Alternate Payee. The interest rate shall be the rate
or rates promulgated by the Pension Benefit Guar-
anty Corporation effective for January of the year
in which payments commence, for the valuation of
immediate annuities in terminated single employ-
er pension plans. For benefit payments commenc-
ing on or after January 1, 2001, the term actuarial
equivalent means of equal actuarial value using
the 1971 Group Annuity Mortality Table for males,
blended 60% with no set back and 40% set back
seven years for the Participant and blended 40%
with no set back and 60% set back seven years for
the Alternate Payee. The interest rate shall be 7.0%
per annum.
(d) If a Participant dies before benefits have com-
menced to an Alternate Payee and the Participant
and the Alternate Payee were married for at least
one (1) year, to the extent the QDRO so specifies,
the Alternate Payee shall be treated as a Qualified
Spouse under the Pre-Retirement 50% Joint and
Survivor Pension described in Section 4 of Article
IV and the Alternate Payee’s benefits shall be paid
as monthly payments in the amount specified in
the QDRO for the duration of the Alternate Payee’s
lifetime calculated as if the Participant had retired
on a 50% Joint and Survivor Pension on the day
before his death.
(e) A Same-Sex Domestic Partner shall not be con-
sidered a Qualified Spouse for purposes of this
Section.
Section 20. Direct Rollovers. This section applies
to distributions made on or after January 1, 1993. Not-
withstanding any provision of the Plan to the contrary
that would otherwise limit a distributee’s election un-
der this Article, a distributee may elect, at the time and
in the manner prescribed by the Plan administrator,
to have any portion of an eligible rollover distribution
paid directly to an eligible retirement plan specified by
the distributee in a direct rollover.
(a) Eligible rollover distribution. An eligible rollover
is any distribution of all or any portion of the bal-
ance to the credit of the distributee, except that
an eligible rollover distribution does not include:
any distribution that is one of a series of substan-
tially equal periodic payments (not less frequently
than annually) made for the life (or life expectan-
cy) of the distributee or the joint lives (or joint life
expectancies) of the distributee and the distribu-
tee’s designated Beneficiary, or for a specified
period of ten years or more; any distribution to
the extent such distribution is required under Sec-
tion 401(a)(9) of the Code; and the portion of any
distribution that is not includible in gross income
(determined without regard to the exclusion for
net unrealized appreciation with respect to em-
ployer securities).
(b) Eligible retirement plan: An eligible retirement
plan is an individual retirement account described
in Section 408(a) of the Code, an individual retire-
ment annuity described in 408(b) of the Code, an
annuity plan described in Section 403(a) of the
Code, a plan described under Section 403(b) or
457 of the Code, or a qualified trust described in
Section 401(a) of the Code that accepts the dis-
tributee’s eligible rollover distribution.
(c) Distributee: A distributee includes an Employee
or former Employee. In addition, the Employee’s
or former Employee’s surviving spouse and the
Employee’s or former Employee’s spouse or for-
mer spouse who is the alternate payee under a
Qualified Domestic Relations Order, as defined in
Section 414(p) of the Code, are distributees with
regard to the interest of the spouse or former
spouse.
(d) Direct Rollover: A direct rollover is a payment by
the Plan to the eligible retirement plan specified
by the distributee.
(e) Nonspouse Beneficiaries. Notwithstanding the
above, effective for distributions after December
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31, 2006, a nonspouse beneficiary may elect to
have all or a specified portion of an eligible roll-
over distribution paid directly to an individual
retirement account or individual retirement annu-
ity established for the purpose of receiving such
distribution as an inherited individual retirement
account or annuity, in accordance with the Pen-
sion Protection At of 2006 and applicable rules and
regulations.
Section 21. Minimum Distribution
Requirements.
(a) General Rules
(1) Effective Date. The provisions of this sec-
tion will apply for purposes of determining
required minimum distributions for calendar
years beginning with the 2003 calendar year.
(2) Precedence. The requirements of this Section
21 will take precedence over any inconsistent
provisions of the Plan.
(3) Requirements of Treasury Regulations Incor-
porated. All distributions required under this
article will be determined and made in accor-
dance with the Treasury regulations under sec-
tion 401(a)(9) of the Internal Revenue Code.
(4) TEFRA Section 242(b)(2) Elections. Notwith-
standing the other provisions of this article,
other than Section 21(a)(3) of this Article VIII,
distributions may be made under a designa-
tion made before January 1, 1984, in accor-
dance with section 242(b)(2) of the Tax Equity
and Fiscal Responsibility Act (TEFRA) and the
provisions of the plan that relate to section
242(b)(2) of TEFRA.
(5) References. All references to paragraphs in
Section 21 shall refer to Section 21 of Article
VIII.
(b) Time and Manner of Distribution.
(1) Required Beginning Date. The Participant’s en-
tire interest will be distributed, or begin to be
distributed, to the Participant no later than the
Participant’s Required Beginning Date.
(2) Death of Participant Before Distributions Be-
gin. If the Participant dies before distributions
begin, the Participant’s entire interest will be
distributed, or begin to be distributed, no later
than as follows:
(A) If the Participant’s surviving spouse is the
Participant’s sole designated beneficiary,
then except as provided in the Plan, distri-
butions to the surviving spouse will begin
by December 31 of the calendar year im-
mediately following the calendar year in
which the Participant died, or by Decem-
ber 31 of the calendar year in which the
Participant would have attained age 70½,
if later.
(B) If the Participant’s surviving spouse is not
the Participant’s sole designated benefi-
ciary, then, except as provided in the Plan,
distributions to the designated beneficiary
will begin by December 31 of the calendar
year immediately following the calendar
year in which the Participant died.
(C) If there is no designated beneficiary as of
September 30 of the year following the
year of the Participant’s death, the Partici-
pant’s entire interest will be distributed
by December 31 of the calendar year con-
taining the fifth anniversary of the Partici-
pant’s death.
(D) If the Participant’s surviving spouse is the
Participant’s sole designated beneficiary
and the surviving spouse dies after the
Participant but before distributions to the
surviving spouse begin, this Section 21(b)
(2), other than Section 21(b)(2)(A), will
apply as if the surviving spouse were the
Participant.
For purposes of this Section 21(b)(2) and
Section 21(e), distributions are considered
to begin on the Participant’s Required Be-
ginning Date (or, if Section 21(b)(2)(D) ap-
plies, the date distributions are required
to begin to the surviving spouse under
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Section 21(b)(2)(A)). If annuity payments
irrevocably commence to the Participant
before the Participant’s Required Begin-
ning Date (or to the Participant’s surviving
spouse the date distributions are required
to begin to the surviving spouse under
Section 21(b)(2)(A)), the date distributions
are considered to begin is the date distri-
butions actually commence.
(3) Form of Distribution. Unless the Participant’s
interest is distributed in the form of an annuity
purchased from an insurance company or in a
single sum on or before the Required Begin-
ning Date, as of the first distribution calendar
year, distributions will be made in accordance
with paragraphs (c), (d) and (e) of this Section
21. If the Participant’s interest is distributed
in the form of an annuity purchased from an
insurance company, distributions thereunder
will be made in accordance with the require-
ments of section 401(a)(9) of the Code and
the Treasury regulations. Any part of the Par-
ticipant’s interest which is in the form of an
individual account described in section 414(k)
of the Code will be distributed in a manner
satisfying the requirements of Section 401(a)
(9) of the Code and the Treasury regulations
that apply to individual accounts.
(c) Determination of Amount to Distributed Each Year.
(1) General Annuity Requirements. If the Partici-
pant’s interest is paid in the form of annuity
distributions under the Plan, payments under
the annuity will satisfy the following require-
ments:
(A) the annuity distributions will be paid in
periodic payments made at intervals not
longer than one year;
(B) the distributions period will be over a life
(or lives) or over a period certain not lon-
ger than the period described in Section
21(d) or (e);
(C) once payments have begun over a pe-
riod certain, the period certain will not
be changed even if the period certain is
shorter than the maximum permitted;
(D) payments will either be non-increasing or
increase only as follows:
(i) by an annual percentage increase that
does not exceed the annual percent-
age increase in a cost-of living index
that is based on prices of all and is-
sued by the Bureau of Labor Statistics;
(ii) to the extent of the reduction in the
amount of the Participant’s payments
to provided for a survivor benefit
upon death, but only if the benefi-
ciary whose life was being used to
determine the distribution period
described in Section 21(d) dies or is
no longer the Participant’s beneficiary
pursuant to a qualified domestic re-
lations order within the meaning of
Section 414(p);
(iii) to provide cash refunds of employee
contributions upon the Participant’s
death; or
(iv) to pay increased benefits that result
from a plan amendment.
(2) Amount Required to be Distributed by Re-
quired Beginning Date. The amount that must
be distributed on or before the Participant’s
Required Beginning Date (or, if the Participant
dies before distributions begin, the date dis-
tributions are required to begin under Sec-
tion 21(b)(2)(A) or (B)) is the payment that is
required for one payment interval. The second
payment need not be made until the end of
the next payment interval even if that pay-
ment interval ends in the next calendar year.
Payment intervals are the periods for which
payments are received, e.g., bi-monthly,
monthly, semi-annually or annually. All of the
Participant’s benefit accruals as of the last day
of the first distribution calendar year will be
included in the calculation of the amount of
the annuity payments for payment intervals
ending on or after the Participant’s required
beginning date.
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(3) Additional Accruals After First Distribution Cal-
endar Year. Any additional benefits accruing to
the Participant in a calendar year after the first
distribution calendar year will be distributed
beginning with first payment interval ending
in the calendar year immediately following the
calendar year in which such amount accrues.
(d) Requirements For Annuity Distributions That Com-
mence During Participant’s Lifetime. Notwhith-
standing any other provisions of the Plan, benefits
from the Plan shall be payable in one of the forms
of payment specified in Articles IV and VII.
(1) Joint Life Annuities Where the Beneficiary Is
Not Participant’s Spouse. If the Participant’s
interest is being distributed in the form of a
joint and survivor annuity for the joint lives of
the Participant and a non-spouse beneficiary,
annuity payments to be made on or after the
Participant’s Required Beginning Date to the
designated beneficiary after the Participant’s
death must not at any time exceed the ap-
plicable percentage of the annuity payment
for such period that would have been payable
to the Participant using the table set forth in
Q&A-2 of section 1.401(a)(9)-6T of the Trea-
sury regulations. If the form of distribution
combines a joint and survivor annuity for the
joint lives of the Participant and a non-spouse
beneficiary and a period certain annuity, the
requirement in the preceding sentence will
apply to annuity payments to be made to the
designed beneficiary after the expiration of
the period certain.
(2) Period Certain Annuities. Unless the Partici-
pant’s spouse is the sole designated benefi-
ciary and the form of distribution is a period
certain and no life annuity, the period certain
for an annuity distribution commencing dur-
ing the Participant’s lifetime may not exceed
the applicable distribution period for the Par-
ticipant under the Uniform Lifetime Table set
forth in section 1.401(a)(9)-9 of the Treasury
regulations for the calendar year that con-
tains the annuity starting date. If the annuity
starting date preceded the year in which the
Participant reaches age 70, the applicable
distribution period for the Participant is the
distribution period for age 70 under Uniform
Lifetime Table set forth in section 1.401(a)(9)-
9 of the Treasury regulations plus the excess
of 70 over the age of the Participant as of the
Participant’s birthday in the year that contains
the annuity starting date. If the Participant’s
spouse is the Participant’s sole designated
beneficiary and the form of distribution is a
period certain and no life annuity, the period
certain may not exceed the longer of the
Participant’s applicable distribution period,
as determined under this Section 21(d)(2), or
the joint life and last survivor expectancy of
the Participant and the Participant’s spouse as
determined under the Joint and Last Survivor
Table set forth in section 1.401(a)(9)-9 of the
Treasury regulations, using the Participant’s
and spouse’s attained ages as of the Partici-
pant’s and spouse’s birthdays in the calendar
year that contains the annuity starting date.
(e) Requirements For Minimum Distribution Where
Participant Dies Before Date Distributions Begin.
(1) Participant Survived by Designated Benefi-
ciary. Except as provided in the adoption
agreement, if the Participant dies before the
date distribution of his or her interest begins
and there is a designated beneficiary, the
Participant’s entire interest will be distributed,
beginning no later than the time described in
Section 21(b)(2)(A) or (B), over the life of the
designated beneficiary or over a period cer-
tain not exceeding:
(a) unless the annuity starting date is before
the first distribution calendar year, the life
expectancy of the designated beneficiary
determined using the beneficiary’s age as
of the beneficiary’s birthday in the calen-
dar year immediately following the calen-
dar year of the Participant’s death; or
(b) if the annuity starting date is before the
first distribution calendar year, the life
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expectancy of the designated beneficiary
determined using the beneficiary’s age as
of the beneficiary’s birthday in the calen-
dar year that contains the annuity starting
date.
(2) No Designated Beneficiary. If the Participant
dies before the date distributions begin and
there is no designated beneficiary as of Sep-
tember 30 of the year following the year of the
Participant’s death, distribution of the Partici-
pant’s entire interest will be completed by De-
cember 31 of the calendar year containing the
fifth anniversary of the Participant’s death.
(3) Death of Surviving Spouse Before Distribu-
tions to Surviving Spouse Begin. If the Partici-
pant dies before the date distribution of his or
her interest begins, the Participant’s surviving
spouse is the Participant’s sole designated
beneficiary, and the surviving spouse dies
before distributions to the surviving spouse
begin, this Section 21(e) will apply as if the
surviving spouse were the Participant, except
that the time by which distributions must be-
gin will be determined without regard to Sec-
tion 21(b)(2)(A).
(f) Definitions.
(1) Designated beneficiary. The individual who is
designated as the beneficiary under Section
15 of Article I of the Plan and is the designated
beneficiary under section 401(a)(9) of the In-
ternal Revenue Code and section 1.401(a)(9)-1,
Q&A-4, of the Treasury regulations.
(2) Distribution calendar year. A calendar year
for which a minimum distribution is required.
For distributions beginning before the Par-
ticipant’s death, the first distribution calendar
year is the calendar year immediately preced-
ing the calendar year which contains the Par-
ticipant’s required beginning date. For distri-
butions beginning after the Participant’s death,
the first distribution calendar year is the calen-
dar year in which distributions are required to
begin pursuant to Section 21(b)(2).
(3) Life expectancy. Life expectancy as computed
by use of the Single Life Table in section
1.401(a)(9)-9 of the Treasury regulations.
(4) Required Beginning Date. The date specified in
Section 5 of Article VIII of the Plan.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Section 1. Limitation on Vesting. Except as spe-
cifically provided in Article III, no Actor prior to re-
tirement in accordance with this Plan shall have any
vested rights to benefits under this Plan.
Section 2. Non-Reversion. It is expressly under-
stood that in no event shall any of the corpus or assets
of the Pension Fund revert to the Producers or be sub-
ject to any claims of any kind or nature by the Produc-
ers, except for the return of an erroneous contribution
within the time limits prescribed by law.
Section 3. Gender. Wherever any words are used
in this Plan in the masculine gender, they should
be construed as though they were also used in the
feminine gender in all situations where they would
so apply, and vice versa; and wherever any words are
used in this Plan in the singular form they should be
construed as though they were also in the plural form
in all situations where they would so apply, and vice
versa.
Section 4. Limitation of Liability. This Plan has
been adopted on the basis of an actuarial calculation
which has established, to the extent possible, that
the contributions will, if continued, be sufficient to
maintain the Plan on a permanent basis. However, it is
recognized that the benefits provided by this Plan can
be paid only to the extent that the Plan has available
adequate resources for those payments. No Producer
has any liability, directly, or indirectly, to provide the
benefits established by this Plan beyond the obligation
of the Producer to make contributions as stipulated in
his Collective Bargaining Agreement. In the event that
at any time the Pension Fund does not have sufficient
assets to permit continued payments under this Plan,
nothing contained in this Plan and the Trust Agreement
shall be construed as obligating any Producer to make
benefit payments or contributions (other than the
contributions for which the Producer may be obligated
by his Collective Bargaining Agreement) in order to
provide for the benefits established by the Plan. Like-
wise, there shall be no liability upon the Plan Trustees,
individually or collectively, or upon any Producer or
SAG to provide the benefits established by this Plan if
the Pension Fund does not have assets to make such
benefit payments.
Section 5. Unclaimed Benefits.
If payment of any benefit to an individual under this
Plan cannot be effectuated because the individual can-
not be located within three (3) years from the date the
individual’s distribution became payable or a distribu-
tion has been issued to the individual, but the indi-
vidual has not collected upon the distribution within
three (3) years from the date the individual’s distribu-
tion became payable, then the Plan shall consider such
benefit to be forfeited and shall delete such individual
from the list of those entitled to current benefits under
the Plan’s records. The Plan shall reinstate the benefit
of any individual who presents himself or herself to
the Plan after such forfeiture has occurred, although
such reinstatement shall not include any adjustment
for increases or decreases in the benefit formula for
the period between the date of forfeiture and the date
of reinstatement.
Section 6. Overpayments.
If for any reason payment of benefits to an individual
under this Plan exceeds the amount of benefits that
should have been paid, then the Trustees can take all
actions they determine to be necessary and appropri-
ate to recover the overpaid benefits. Such actions may
include withholding future benefit payments to offset
the amount of the overpaid benefits and/or requiring
the Participant to repay the overpaid benefits.
ARTICLE Ix. Miscellaneous
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Section 1. Amendment. This plan may be amended
at any time by the Trustees, consistent with the provi-
sions of the Trust Agreement. However, no amendment
may decrease the accrued benefit of any Participant,
except:
(a) As necessary to establish or maintain the qualifi-
cation of the Plan or the Trust under the Internal
Revenue Code and to maintain compliance of the
Plan with the requirements of ERISA; or
(b) If the amendment meets the requirements of Sec-
tion 302(c)(8) of ERISA and Section 412(c)(8) of the
Internal Revenue Code, and the Secretary of Labor
has been notified of such amendment and has ei-
ther approved of it or, within 90 days after the date
on which such notice was filed, he failed to disap-
prove.
Section 2. Actuarial Reviews. This Plan has been
adopted on the basis of an actuarial estimate which
has established (to the fullest extent possible) that
the income and accruals of the Pension Fund will be
ARTICLE x. Amendment And Termination
fully sufficient to support this Plan on a permanent
basis. However, it is recognized as possible that in
the future the income or the liabilities of the Pension
Fund may be substantially different from those previ-
ously anticipated. It is understood that this Plan can
be fulfilled only to the extent that the Pension Fund
has assets available from which to make payments.
Consequently, the Plan Trustees shall have prepared
annually an actuarial review of the Pension Fund and
shall take the actuarial status of the Pension Fund into
account in determining amendment or modification of
this Plan.
Section 3. Termination of Plan. The Trustees shall
have the right to discontinue or terminate this Plan in
whole or in part. In the event of a termination or partial
termination of this Plan, the rights of all affected Par-
ticipants to benefits then accrued, to the extent then
funded, shall thereupon become one hundred percent
(100%) vested and nonforfeitable. Upon a termination
of the Plan, the Trustees shall take such steps as they
deem necessary or desirable to comply with Sections
4041A and 4281 of ERISA.
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
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Screen Actors Guild Employees Retirement Plan
The purpose of this Appendix A is to incorporate the
provisions of the Screen Actors Guild Employees
Retirement Plan as in effect on December 31, 2003
(“Guild Plan”) that are to be retained. The provisions
of the Guild Plan not specified in this Appendix A are
to be administered in accordance with the provisions
of the Pension Plan for the Screen Actors Guild - Pro-
ducers Pension Fund for Motion Picture Actors (“SAG
Producers Plan”). Notwithstanding the foregoing, the
provisions of the Guild Plan shall continue in full force
and effect for any applicable provision as specified in
the SAG-Producers Plan or this Appendix.
The Guild Plan was merged into the SAG-Producers
Plan effective as of January 1, 2004. Unless otherwise
specified in this Appendix A, a Participant who retired
or terminated with a vested benefit under the Guild
Plan prior to January 1, 2004 shall be entitled to a
benefit under the terms of the Guild Plan as in effect
on December 31, 2003. Upon the completion of the
requirements set forth in Article I, Section 29 of the
SAG-Producers Plan, a Guild Office Participant shall
be entitled to a benefit under the terms of the SAG-
Producers Plan unless otherwise specified under this
Appendix A.
I. Definitions
For purpose of this Appendix A, the following terms
shall apply with respect to the Accrued Benefit as de-
fined in Section II of this Appendix A.
A. “Accrued Benefit” means the monthly benefit
amount payable to a Guild Participant in the form
of a single life annuity on his Normal Retirement
Date as defined in the Guild Plan. A Participant’s
Accrued Benefit will be equal to an amount which
is the sum of i. plus ii. where:
i. Is an amount equal to 3.0% for each Year of
Credited Service as defined in the Guild Plan
multiplied by the Guild Participant’s Final
Average Monthly Compensation as defined
under the Guild Plan; and
ii. Is an amount equal to 0.65% (the “Excess
Percentage”) of a Participant’s Final Average
Monthly Compensation which is in excess of
Covered Compensation, multiplied by the Par-
ticipant’s Years of Credited Service.
The maximum number of Years of Credited
Service which may be counted under any
circumstances for the purposes of this para-
graph shall be twenty (20).
B. “Actuarial Equivalent” means equality in the value
of aggregate amounts expected to be received un-
der different forms of payment, based on mortal-
ity and interest rate assumptions consistent with
generally accepted actuarial principles applied on
a consistent basis.
Actuarial Equivalence shall be computed in ac-
cordance with (1) the mortality factor for the age
of the Participant on the date benefits commence,
determined using the Applicable Mortality Table
and (2) the Applicable Interest Rate.
The present value of such benefits or annuities
calculated above cannot be less than the present
value of such Benefits determined under the Plan’s
provisions for determining present value of a Par-
ticipant’s Accrued Benefit.
“Applicable Mortality Table” means:
(a) the mortality table as prescribed by Revenue
Ruling 2001-62 for purposes of converting
from the normal form to either a joint and sur-
vivor option or a certain and life option, or
(b) the mortality table prescribed by the Secre-
tary of the Treasury pursuant to Code Section
417(e)(3)(B) for purposes of converting from
the normal form to a lump sum option.
“Applicable Interest Rate” means:
(a) For distributions occurring prior to January 1,
2011, the rates prescribed by Income Tax Regu-
lation Section 1.417(e)-1(d)(3), which is the an-
APPENDIx A
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nual rate of interest on thirty (30) year Treasury
Securities specified by the Internal Revenue
Commissioner for the second calendar month
(the ‘look-back month’) immediately preceding
the first day of the Plan Year (the ‘stability pe-
riod’) in which the distribution occurs.
(b) For distributions occurring during 2011: the
rates prescribed by Income Tax Regulation
Section 1.417(e)-1(d)(3), which is the annual
rate of interest on thirty (30) year Treasury
Securities specified by the Internal Revenue
Commissioner for November 2010 or August
2010, whichever is more favorable to the
participant.
(c) For distributions occurring after 2011, the rates
prescribed by Income Tax Regulation Section
1.417(e)-1(d)(3), which is the annual rate of
interest on thirty (30) year Treasury Securities
specified by the Internal Revenue Commis-
sioner for the fifth calendar month (the ‘look-
back month’) immediately preceding the first
day of the Plan Year (the ‘stability period’) in
which the distribution occurs, or such other
interest rate or rates as are subsequently pre-
scribed under such Regulations.
The Applicable Interest Rate will only be used to
the extent required by Code Sections 411 (a) and
417 (e).
Notwithstanding the above, if a benefit is distrib-
uted in a form other than a non-decreasing annuity
payable for a period not less than the life of a Partici-
pant (or in the case of a qualified Joint and Survivor
Annuity, the life of the surviving spouse), the inter-
est rate used in determining the Actuarial Equiva-
lent of the Excess Percentage shall be an interest
rate determined pursuant to Code Section 417.
The Applicable Interest Rate used in converting
from the normal form to either a joint and survivor
option or a certain and life option shall be 7%.
C. “Covered Compensation” means, for a Plan Year,
the average (without indexing) of the taxable
wage bases in effect for each calendar year dur-
ing the 35-year period ending with the last day of
the calendar year preceding the calendar year in
which the Participant attains (or will attain) Social
Security Retirement Age. In determining a Partici-
pant’s Covered Compensation for a Plan Year, the
taxable wage base for the current Plan Year and
any subsequent Plan Year shall be assumed to be
the same as the taxable wage base in effect as of
the beginning of the Plan Year for which the deter-
mination is being made.
D. “Guild Participant” means a participant of the
Guild Plan who had accrued a benefit under the
Guild Plan as of December 31, 2003.
II. Retirement Benefits
A. All Guild Participants ceased to accrue benefits
under the Guild Plan as of December 31, 2003.
B. In no event will a Guild Participant receive an Ac-
crued Benefit under the SAG-Producers Plan that
is less than the Accrued Benefit earned as of De-
cember 31, 2003 under the Guild Plan subject to
all applicable provisions in the Guild Plan.
III. Special Rules
A. Early Retirement Benefit. If a Guild Participant
terminates employment after he has attained
age 55 and completed 5 but less than 10 Years of
Credited Service, such Guild Participant shall be
entitled to receive a monthly benefit, payable in a
form provided under paragraph (B) below, equal
to the Actuarial Equivalent of the Guild Partici-
pant’s Accrued Benefit as of December 31, 2003.
Such Actuarial Equivalent shall be determined by
reducing the Accrued Benefit by one-half percent
(0.5%) per month for each month that his Annuity
Starting Date precedes the date on which he will
attain age 65. Benefits earned after December 31,
2003 will become payable upon the Participant’s
Normal Retirement Age as defined under the
SAG-Producers Plan.
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B. Optional Forms of Payment. A Guild Participant
shall be entitled to the following optional forms
of payment attributable to his Accrued Benefit
earned as of December 31, 2003 under the Guild
Plan:
i. A single life monthly annuity during the life of
the Participant with no payments on his/her
behalf after his/her death;
ii. A single life monthly annuity during the life
of the Participant but with at least 180 certain
monthly with such certain payments to be
paid to a Beneficiary designated by the Guild
Participant (such benefit to be the Actuarial
Equivalent of the benefit as would be paid un-
der a single life annuity);
iii. A lump sum distribution (with such benefit to
be the Actuarial Equivalent of the benefit as
would be paid under the Plan as in effect on
the date of such distribution); provided, how-
ever, that a lump sum distribution under this
paragraph shall be limited to the portion of
the Participant’s benefit accrual as of Decem-
ber 31, 2002; and
iv. A partial single lump sum distribution provided
that no partial single lump sum distribution un-
der this paragraph has previously been made
to the Participant. The remainder of the benefit
will be determined by reducing the monthly
benefit to reflect the portion of the original
monthly benefit distributed in the partial single
sum distribution. The timing and form of the
remainder of the benefit will be determined
under separate election by the Participant.
Election for the remaining annuity can be
made on or after the partial single sum distri-
bution election is made. A partial single lump
sum distribution under this paragraph shall be
limited to the portion of the Participant’s ben-
efit accrued as of December 31, 2002.
C. Death Benefit. In the event a Guild Participant dies
on or after January 1, 2004, such Guild Partici-
pant’s Spouse or Beneficiary shall be entitled to a
death benefit, if any, payable in accordance with
the provisions of the SAG-Producers Plan as in
effect on the date of his or her death.
For more information on the Pension Plan, please visit:
www.sagph.org
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Retroactive Annuity Starting Date starting date, then the Participant’s spouse must
consent in writing to the Participant’s election of
such retroactive annuity starting date.
6. Except in the case where payment of the Partici-
pant’s benefit (other than a form of payment that
is subject to Section 417(e) of the Internal Revenue
Code) commences no more than 12 months after
the retroactive annuity starting date, the Partici-
pant’s benefit determined based on the retroac-
tive annuity starting date (including any interest
adjustments) shall satisfy the requirements of
Section 415 of the Internal Revenue Code if the
current annuity starting date were to be substi-
tuted for the retroactive annuity starting date for
all purposes of determining the limits under Sec-
tion 415 of the Internal Revenue Code, including
for purposes of determining the applicable interest
rate and the applicable mortality table used to ad-
just such limits.
7. If the Participant’s benefit is payable in a form
of payment which would have been subject to
Section 417(e) of the Internal Revenue Code if
payment had commenced as of the retroactive
annuity starting date, then the amount of
payment as of the current annuity starting date
shall be no less than the amount of payment
produced by applying the applicable interest
rate and the applicable mortality table (defined
in Section 417(e)(3) of the Internal Revenue
Code), determined as of such date to the annuity
form that was used to determine the amount of
payment as of the Participant’s retroactive annuity
starting date.
8. In the event that a Participant elects (with spousal
consent, if applicable) to receive his benefit de-
termined as of a retroactive annuity starting date,
the Participant shall receive a make-up payment
to reflect any missed payment or payments for the
period from the retroactive annuity starting date
to the date of the actual make-up payment, with
an appropriate adjustment for interest from the
APPENDIx B
Effective as of January 1, 2004, in the event a written
notice of a Participant’s optional forms of payment (the
“QJSA notice”) is required and provided after the Par-
ticipant’s annuity starting date as defined in Q&A-10(b)
of Section 1.401(a)-20 of the Treasury Regulations, the
Participant’s annuity starting date shall be deemed a
”retroactive annuity starting date”. In such event, the
following paragraphs shall apply:
1. The date the first payment is actually made to the
Participant (the ‘current annuity starting date’)
shall occur no later than 180 days after the date
the QJSA notice is provided to the Participant
(unless any delay beyond the 180 days is attribut-
able to administrative delay in the payment of
benefits).
2. The QJSA notice shall include the Participant’s
right to elect either a retroactive annuity starting
date or a current annuity starting date.
3. The information included in the QJSA notice shall
include information based on both the Partici-
pant’s retroactive annuity starting date and current
annuity starting date.
4. The Participant shall have the opportunity to elect
in writing either (a) a benefit determined based
on the retroactive annuity starting date or (b) a
benefit determined based on the current annuity
starting date.
5. In the event that (a) a Participant elects to receive
his benefit determined as of a retroactive annuity
starting date and (b) under the form of payment
elected by such Participant the benefit payable
to the Participant’s spouse upon the Participant’s
death would be less than the benefit payable
to such spouse if the Participant had elected to
receive the 50% Joint and Survivor Pension de-
termined and payable as of the current annuity
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date the missed payment or payments would have
been made (including, if applicable, a payment of
the single-sum value of the Participant’s retirement
income) to the date of the actual make-up pay-
ment. If the Participant’s benefit is paid in a form
other than a single-sum payment, the benefit pay-
ments, other than any required make-up payment,
shall be in an amount that is equal to the amount
which would have been paid to the Participant had
payments actually commenced on his retroactive
annuity starting date.
9. For purposes of the foregoing, references to a Par-
ticipant’s spouse shall include an alternate payee
who, under the terms of a qualified domestic rela-
tions order, is required to be treated as a surviving
spouse in the event of the Participant’s death.
10. Notwithstanding the foregoing, a benefit shall not
be determined based on a retroactive annuity start-
ing date to the extent not permitted under appli-
cable law (including regulations and other adminis-
trative guidance under the Internal Revenue Code).
APPENDIx C
Puerto Rico Participants “Puerto Rico Participant” means a Participant that is,
solely in compliance with the rules applicable to pen-
sion plan participants under the Puerto Rico Internal
Revenue Code of 2011, as amended, and the rules
thereunder, a person who is a resident of Puerto Rico
and whose compensation is considered gross income
for Puerto Rico income tax purposes.
II. Special Rules
Unless otherwise provided in this Appendix C, all
terms and provisions of the Plan shall continue to ap-
ply to Puerto Rico Participants, and this Appendix C
shall have no impact on those Participants who are not
Puerto Rico Participants.
For purposes of this Appendix C, the following special
rules shall apply to any Participant that is a Puerto Rico
Participant:
For purposes of Section 5 of Article I of the Plan, ef-
fective January 1, 2012, the term “Employer” shall
include those persons who, consistent with the intent
of Section 5 of Article I of the Plan, are considered an
“Employer” pursuant to PR Code of 2011 §1081.01(a)
The purpose of this Appendix C is to modify the
provisions of the Plan as applicable to Participants
that are subject to the laws of the Commonwealth
of Puerto Rico. The provisions of this Appendix C
amend the provisions of the Plan as applicable to
Puerto Rico Participants in accordance with the Puer-
to Rico Internal Revenue Code of 2011, as amended
(the “PR Code of 2011”) which, pursuant to the rules
thereunder, require these provisions for pension
plans intended to be dual tax qualified in the Com-
monwealth of Puerto Rico and the United States of
America.
Notwithstanding anything in the Plan to the contrary,
the following provisions shall apply to residents of the
Commonwealth of Puerto Rico that may be from time
to time a Participant or Beneficiary in the Plan:
I. Definitions
For purposes of this Appendix C, the following term
shall apply:
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(14) for purposes of determining compliance with PR
Code of 2011 §§1081.01(a)(3) and 1081.01(a)(4).
For purposes of Section 27 of Article I of the Plan, as it
applies for determining compliance with PR Code of
2011 §§1081.01(a)(3) and 1081.01(a)(4), effective Janu-
ary 1, 2011, “Highly Compensated Employee” means,
any employee who (a) is an officer of the Employer,
(b) a shareholder owning more than 5-percent of the
Employer’s voting stock or the total value of all classes
of the Employer’s stock, or (c) an employee who, for
the immediately preceding taxable year, had com-
pensation from the Employer in excess of the limit in
Internal Revenue Code §414(q)(1)(B). This definition
shall be interpreted consistently with PR Code of 2011
§1081.01(d)(3)(E)(iii).
For purposes of Article III of the Plan, Benefits distrib-
utable to a Puerto Rico Participant shall be subject to
the provisions of the Internal Revenue Code and the
PR Code of 2011, and the rules thereunder (specifi-
cally, Internal Revenue Procedure 2004-37), and the
Puerto Rico income taxation rules of PR Code of 2011
§1081.01(b).
For purposes of Section 16 of Article VIII of the Plan,
effective January 1, 2012, the annual accrued benefit
limitation in Subsection (a)(1) therein shall be subject
to the provisions of PR Code of 2011 §1081.01(a)(11).
For purposes of Section 18 of Article VIII of the Plan,
effective January 1, 2012, the Compensation Limit
therein shall be subject to the provisions of PR Code of
2011 §1081.01(a)(12).
For purposes of Section 20 of Article VIII of the Plan,
effective January 1, 2011, the Direct Rollover provi-
sions therein shall further provide: For Puerto Rico
income tax purposes a direct rollover by the Plan to an
eligible retirement plan specified by a distributee who
is a resident of Puerto Rico, as determined pursuant
to PR Code of 2011 §1010.01(a)(30), shall be treated as
a taxable distribution unless: (a) the eligible rollover
distribution is all or part of a single lump sum payment
pursuant to PR Code of 2011 §1081.01(b)(1); and (b) the
eligible retirement plan is a qualified employees’ trust
described in PR Code of 2011 §1081.01(a) or a individu-
al retirement account or individual retirement annuity
described in PR Code of 2011 §1081.02. This provision
shall be interpreted consistently with PR Code of 2011
§1081.01(b)(2)(A).
For more information on the Pension Plan, please visit:
www.sagph.org
Screen Actors Guild – Producers Pension Plan
Screen Actors Guild–Producers Pension & Health Plans
Los AngelesBusiness Arts Plaza
3601 West Olive Avenue, Burbank, CA 91505Mailing Address: P.O. Box 7830, Burbank, CA 91510-7830
(818) 954-9400 or (800) 777-4013
Fax: (818) 953-9880Website: www.sagph.org
Email: [email protected]
New York275 Madison Avenue, #1819, New York, NY 10016
(212) 599-6010Fax: (212) 599-2375